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Market Musings

After June 10th, IBD changed its call to "Market in Correction."  Guess I was correct to be unsure about their previous call.

The inflation picture according to the BLS rose to 8.6% in the latest reading ... while the real number was closer to 16.8% according to Shadow Government Statistics.

The FED is clearly ready to raise interest rates again ... maybe by 75 basis points ... that should kill the housing industry which is already shaky.

Perhaps, it is time to remove all the FED economists and the governors since it is clear that they don't have a clue about the economy.

Of course, the same could be said for the vast majority of our elected officials at local, county, state and federal levels.

Supply chain problems and rising interest rates is causing turmoil in the U.S. and world economies.

 Politicians do not understand that rising deficits are simply added quicksand for the U.S. dollar which is losing respect throughout the world of high finance.

Attempts to keep the price of gold and silver from exploding will finally fail and then the U.S. dollar's role as the world's reserve currency will fail.

Rising interest rates leave the FED will huge losses on its portfolio of U.S. debt instruments.

One wonders when the Minsky moment will arrive for the U.S. debt collapse.

The war in Ukraine continues wth the Russians having problems in overcoming resistance. Blasting cities into rubble leaves the Russian forces with little to show for victory.

Sanctions have created some stress to the Russian economy but its oil & natural gas are needed by many European countries as well as China and India.

Now factor in the ambitions of China, Russia, Iran and Pakistan and we have a rising tide of challenges to not only the U.S. but all nations.

 The Acc/Dis chart has fallen back into negative territory suggesting that cash is a prudent position.

Remember -- "Only purchasing power counts!"

Setting definitive action points for held positions will be key to retaining profits in this market.

It is difficult to find long-term trading opportunities with the future so uncertain. By any reasonable measure, this market is dangerous.

Be careful ....

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