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Good morning again, everyone. I wanted to use the ruse of a market update as a way to sneak in an apology. As for the update, weirdly, my portfolio is actually doing all right. Incredibly, within minutes of the opening bell, the /NQ went red. I have closed nothing. So maybe even fake inflation data isn’t enough anymore. Today’s going to be dicey.
In the most predictable event of the week, the PCE inflation numbers computed by the government have come out, and, surprise, surprise, they’re lower than expected. We are now expected to believe that inflation is 2.4%. Yep.
In turn, everything has turned green. It’s the same logic that’s driven the rally for all of 2024:
Cooling Inflation —> Powell Cuts Rates —> Dow Should be at 50,000
(more…)The brokerage Robinhood (HOOD) continues to inch higher. This has been an impressive and sustained run.
I just think of all the sewage processing plants, the garbage, and the concrete. Yuck.
Bitcoin has had a superb year for itself. Even though 2024 isn’t even half over, $BTC has moved up hundreds of percent, and it has neatly been banging inside its gently-ascending rainbow. All is well, right?
