Financial News vs. Noise
I am scheduled to be on Bloomberg TV Monday at 12:20pm EST to talk about the Brendan Wood Top Gun ETF (BWTG).
We are also going to be at the FEPI closing bell on the NASDAQ and the Rex guys will host a happy hour after. If anyone is in NYC and wants to stop by let me know.
Futures well in the green this morning again, bears right now must be feeling like Illinois.
Pure genius, thanks Goldman Sachs
PCE was Friday, came out expected to cool:
PCE 0.3% MoM, Exp. 0.4%
PCE 2.5% YoY, Exp. 2.5%
Core PCE 0.3% MoM, Exp. 0.3%
Core PCE 2.8% YoY, Exp 2.8%
Powell was also interviewed on Friday and was asked about inflation and rates:
“… over the course of the second half of last year we got what I would definitely consider good data over the course of seven months. Then in January of this year we got a very high reading, a much higher reading on inflation. So, February is lower but not as low as most of the good readings we got in the second half of last year. But it is definitely along the lines of what we want to see.” In respect to the confidence the Committee must have to lower interest rates, Powell stated “What do we need to get that confidence? It’s just more good inflation readings like the ones we were getting last year.”
What is really starting to stand out is all the metals—precious and industrial. Been in FCX for a bit, got back into AA Thursday.
For breakout traders a move above the 35 area qualifies. I am not a huge fan of breakout trading but do believe you should integrate into your mix as sometimes something just takes off and doesn’t look back.
Same look for GDX, which we added to on Thursday.
DJT finally had a red day so I went back in small. Remember, this could eventually go to 1 like many other despac’s before it, but I think Trump makes this different. Either way I think you trade it, don’t own it.
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Matthew Tuttle is the Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management, LLC.
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