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Good morning, everyone, and happy Friday to you. The final big event of the week just hit, the Core PCE, and it was a total nothingburger. The fake inflation numbers produced and controlled by the government came in precisely as expected (goodness!) which shoes inflation at a hilarious 0.3% monthly. Be sure to think of that next time you go shopping.
Last night I was feeling very left behind, since the QQQs were plunging, and I was sitting around with IWM puts, and the small caps were just sitting there like an oil painting. Well, I’m pleased to be “left out” tonight, because tech stocks are going insane. I mean, look, I don’t even know what to SAY about a chart that looks like Alphabet’s except, gosh ,that sure is going up a lot. It’s basically unchartable.
In sharp contrast to yesterday’s META wipeout, the tech stocks are exploding higher tonight, driven by the typical nonsense of (a) massive buybacks (b) massive dividends. Google in particularly is blasting to never-before-seen highs.
