Financial News vs. Noise
Not a lot going on ahead of the jobs number this morning which ought to be important. Rates and semiconductors didn’t do much either. The past couple of days we have seen the bank of Canada and ECB cut rates, now all eyes turn to the Fed. Speaking of the Fed I talked to Barron’s yesterday about the “Fed Put” being back…
Its Risk-On in the Market. Traders Count on a ‘Fed Put.’-Barron’s
“You see every dip get bought, every piece off bad economic news or inflation news isn’t a big deal, etc. For now buy the dips because the Fed will have your back ,” Matthew Tuttle, chief executive of investment firm Tuttle Capital Management wrote to Barron’s.
We came into the year expecting 6 rate cuts, now there is speculation we could possibly get none. However, the huge difference between 2022 and now is that in 2022 the Fed’s next move was a hike, now we expect the next move is a cut.
Besides the jobs report, the news of the day will be GME.
Degens are part of the fuel for meme-stock mania, like the logic-defying action in GameStop shares in recent weeks. When these internet-fueled traders stick together, they have the potential to spark wild swings in assets. All it takes is for a meme to catch fire.
I have no problem with this. We live in a world where Congress blatantly trades on inside information, money managers talk up stocks they are selling, and probably many also trade on inside information.
Most interest area in the market to me right now is the AI infrastructure. NVDA is unstoppable, but the infrastructure stocks have been selling off. They went too far too fast, so this is to be expected. I have been, and will continue to buy the dips.
Law and order stocks are back on my radar screen for dips buys as well…
And Argentina
Gold miners seem to be selling off pretty hard today after a nice pop yesterday. Of course the media is always late. Gold Prices Are Sky-High. Will Gold Miners Follow?-Barron’s
Speaking of NVDA we saw Jensen sign a woman’s boob and then Cramer wore a leather jacket on Mad Money.
Now this…
I’m sure this is fine….
As is this…
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Matthew Tuttle is the Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management, LLC.
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