The PPI number will be important today, but Tuesday's CPI number is more important. I thought yesterday's unemployment claims were a little high. If that persists a few weeks we might see more softness that will keep the Fed in its cage.
There has been some modest liquidation in some commodities recently: corn, soybeans, cocoa, cattle (ugh! on that one). Some justified, some not vs. fundamentals. I'm not sure what it means ... yet ... if anything.
India was strong overnight, up 2% on the BSE Sensex.
Energy stocks have a tiger in their tank lately. XLE is at all-time highs. As these stocks correct violently when the beefers sell/rotate, I am contemplating a XLE short hedge sometime. I am holding my energy stocks long-term, so would use the hedge instead of selling. No decision on when or where. Just thinking.
Often when I start thinking how much money I am making in stocks, that signals a top. I've been fighting those thoughts, but that does creep in once in a while. I am building a mental wall to keep those dangerous thoughts out. I just thought I would mention it. I don't think it's a "little birdie signal" yet.
Sure looks like gasoline will go to all-time highs this summer. I'll be surprised if it doesn't.
PS: Good core PPI number. Now we need next week's core CPI to follow.
that INFY worked nicely even though guidance was below jay's expectations (just a tad).
ReplyDeleteall out. 100% cash and ready for a weekend
did i hear this guy say rush doesnt put his foot in his mouth like Imus?
ReplyDeletei have a question for this dude. can i buy some of what your smoking.
"values over profits"
lololololol
USD 81 handle
ReplyDeleteppi rofl, nice massage
Rush sure had foot-in-mouth disease when he was on drugs.
ReplyDeleteAnd on the Monday Night football gig.
I never listen to him anymore - worthless.
consumer expectations of inflation ramping.
ReplyDeletereality becoming perception?
3.3% my eye, multiply that time pie
:-)
covered my shorts. seems like u have to on every decent rinse.
ReplyDeleteafter the shorts and INFY long, i shud work away right now.
Just got my Form 2210 done to prove I owe no penalty or interest. What a complex form! I wrote a spreadsheet a couple years ago, but inputng the numbers is a lot of work.
ReplyDeleteLast to do is fill out the state form.
That's bull market action, Mern. Real buyers do it on the dips ;-)
ReplyDeletebig positive stoch divg, positive NNI
ReplyDeletebut if im buying the dips, ie covering shorts, doesnt that make me a virtual seller?
ReplyDelete;-)
Mern, you are so virtual that you can't be measured ;-)
ReplyDeleteYour selling is a virtual seller and your covering is a virtual buyer. You are your own anti-particle ;-)
Uh, that's "virtual", not "virtuous" ;-)
u sound like my wife
ReplyDelete:-)
lol.
ReplyDeleteHave a good weekend.
I finally got my taxes done. Whew!