
Tanks a Lot!

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Well, well, well. Precisely as I predicted (which was a ridiculously easy prediction), Bessent has reported Nothing But Good News from his weekend tete-a-tete with China. Seriously, what else is going to say? That there’s no way in hell he’d ever want to cut a deal with these scoundrels? Of course not. It’s all going to be peaches and cream. Thus:
Out of the thirty equities in my Bear Pen, fourteen of them are not in position for one reason or another. They are still worth watching closely, and I’m zoomed in on what I consider to be the most relevant recent portions of each chart. I’ve also watermarked each one with its ticker.
Excerpted from the May 11 edition of Notes From the Rabbit Hole, NFTRH 862:
Dumb money apparently thinks that now that Trump is making a few sounds about making nicey nice with some trade partners, all’s well again. Dumb money is gulping down stonks even more aggressively now, while Smart money is fading. A degrading contrary-sentiment picture here.
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