[edit] Please see a new post with more perspective on a would-be 'inflation trade' and its limitations. The following excerpt is the opening segment from this week's edition of Notes…
45 pages and not nearly as difficult to get through as that sounds. Things seem very clear to me about what is going on with the macro backdrop. The May…
I don't write the title because the precious metals took off today on the bad jobs report. Far from it. That is what gold is supposed to do under such…
Factory orders came in okay, joining a pretty good ISM (manufacturing) the other day while ISM (services) eased in May. Could we be seeing a phase change, where old fashioned…
Well, talk about crosscurrents. Job growth really took a hit. The services stuff is still creating the jobs but the whole lagging mess dropped off in May (with unemployment actually…
Sometimes my charts get noisy with all the moving averages, momentum indicators, volume, different time frames, inter-market ratios, etc. For this post, some very quiet monthly charts. Let's start with…
We are all learning all the time. One ongoing lesson for me is to remind myself that sometimes patience is best. Medtronic (MDT) was highlighted at the site on April…
I am doing more NFTRH+ highlights in the weekend report as opposed to in-week at the site. That way people can research the stocks in question at their own leisure. …
We have been noting that a 10 year break even rate of around 1.6% was the line in the sand on a continued 'inflation trade' after the bounce. The 10yr…
We looked at the precious metals miner ETFs on Tuesday and the status there has not changed. They are still below the EMA 12 & 20 but trying to hold the 50 day moving averages, which means they are still in short-term downtrends and intermediate up trends. For my part, I added a couple items on downside activity (explorer/developer PG.TO just above its MA 200 & royalty/streamer SLW at its MA 50s) but also still hold the DUST and JDST hedges, as noted in the NFTRH 397. This hedging, which sometimes proves unsatisfying could last hours or days. As noted in the previous update, the struggle to hold the MA 50s will decide whether it will have been a quick correction or something deeper.
A fairly level ISM RoB for May. I've highlighted a couple notables. New orders are healthy and price creep is in effect, which would dovetail with our would-be Semiconductor related…