Forty six thousand percent. Forty six thousand percent. That’s how much you woulda, shoulda, coulda made if only you had bought the new baking soda stock in 1980.
Who knew?
What is today’s baking soda of tomorrow? More baking soda? That’s the question. Not to be or not to be. No, it’s “Where’s the baking soda of tomorrow?”
Mix it with a little Clorox perhaps?
Are there any chemists out there?
So the reaction of the stock market to yesterday’s plethora of news was interesting. Apparently the banking crisis isn’t over yet. Apparently, the debt ceiling and threat of default makes investors want to buy Treasuries, at least the ten yr tenor. Bond guys use that word. I always thought it had something to do with opera singers. Who knew. But we know why they’re buying it now. There’s too much money and not enough paper to absorb it. But trust me, it’s transitory, this too shall pass.
Any time someone says “Trust me,” or “It’s transitory,” one thing is sure. It can’t be trusted. So watch and verify. You can observe a lot by watching. And so, we will one day at a time.
Like today.
The hourly chart of the ES, 24 hour S&P futures shows a lower low this morning, but with an instant rebound to create a semblance of a double bottom. However, the lower low was confirmed by a lower low in the hourly oscillators. The final 5 day cycle low is usually accompanied by at least a little positive divergence in the oscillators. So I’d expect a minor new low here, at least.
For moron the markets, see:
- Swing Trade Chart Picks – The Future is One Word – Baking Soda April 26, 2023
- Enjoy the Market Mirage Now Because We’re Really In a Desert April 24, 2023
- Why Not Get Too Excited About Bearish Proclamations… Yet April 24, 2023
- Is Gold Still Ticking After This Licking? April 19, 2023
- The Fed’s Circle Jerk, is ‘Twerking? April 18, 2023
- Here’s How We Know That Doom Has Already Arrived April 6, 2023
- Macro Liquidity Says No Way Jerray! April 4, 2023
- How to Play When Fed Changes the Game, Not Just the Rules March 19, 2023
- Systemic Meltdown Under Way As Dead Bodies Finally Start Surfacing March 12, 2023
- Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
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