I think they’ve put in yesterday’s film real. That is to say, (i) hotly-anticipated number (ii) number comes out precisely like the bulls want (iii) rally (iv) fade. Anyway, the PPI was the belle of the ball today, instead of yesterday’s CPI, and it came in absolutely ice cold. Deflation is good, kids! Yay!
Thus, we instantly spiked across the board on the news, although not with nearly the verve as yesterday.
It’s also intriguing how crypto has sprung back to life after its FTX demolition late last year. BTC has doubled, and ETH has more than doubled. The Ethereum futures are above $2,000 again this morning.
I’m positioned fairly aggressively short right now, and even though every single stock futures quote is green right now, I’m not nervous. While we await trading, enjoy one of my favorite MST3K shorts:
