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A cheery Friday to all Slopers the world o’er. Our precious friend palladium shot up to almost $1200 yesterday evening, but since then it has shaved off those gains and moved into am modest loss. I am expanding my position 20% at these levels, because of the reasons I’ve cited repeatedly. The fact /PA is down modestly while gold is getting smacked down nearly $80 is also encouraging.
Remember the 90-day “pause” on the tariff wars? (We didn’t have the TACO term yet back then) That pause sent markets blasting thousands of points higher since then, and it ends on July 9th, seven trading days from now. Since then, I think we’ve achieved a partial deal with a single country, the oh-so-difficult Great Britain. Just sayin’.
I hadn’t really considered Nike (NKE) as a short, but the surge after-hours looks like it’ll push the stock to a beautiful gap-seal. Let’s see what Friday holds before moving forward!
Here’s how the crystal ball is doing mid-year……….
