One of my favorite comedians, David Cross (whom I saw in person a week ago) once explained why he didn’t make Trump jokes. He said it would be like trying to make fun of how the inside of a kaleidoscope looks righhhhhhht………now.
That’s how I’m going to feel about the financial markets in this new era. It’s going to be insane and difficult to summarize, because his whims and declarations are so fluid. Just over the holiday weekend, which is supposed to be pretty much dead in terms of financial movement, things seemed unhinged. The /ES, for instance, soared higher on word of no tariffs, and then plunged on word of 25% tariffs starting February 1st, and presently is generally higher just……..because.
Crypto was even crazier, as we saw with two tokens that didn’t even exist when I was with you on Friday, by way of the TRUMP and MELANIA coins. These make crusty old Bitcoin seem positively boring, which “only” swung wildly by over $10,000 in the span of hours.
My main focus lately, however, has been energy, which in sharp contrast to the above two items has been moving in the direction I most prefer: down. Crude oil has been skidding nicely for days now, with a strong gap for each of the two most recent opens.
Regardless of what’s ahead, I can pledge to you my dogged determination to do my best.
