Weekend 10/20/2024
An old adage on Wall Street is that the market can remain irrational longer than you can remain solvent betting against it.
I closed out my HDGE positions and am simply waiting.
Yes the market continues to rise but it has abandoned the Magnificent Seven, an article in the Weekend WSJ makes that case, AI no longer mesmerizes.
Of all companies Travelers was credited with the Friday rally, an insurance company. I don't doubt that it just shows the rotation of gains can go anywhere.
The S & P dividend is about 1.2%, hardly the start of a new bull market. The T bill rate as noted in the last two posts is rising despite the FED half point cut.
My money is in TBIL, an ETF of three month T Bills which pays monthly as well as T bills and CDs, all insured. This is making 5% while we wait. See the4 Oct 11 post, Digital Investing Ending, the new trend will be commodities and emerging markets, EEM, Here is Cleveland CLIFFS a steel producer.
CLF has lost 2/3 of its peak value. Momentum indicators are bottoming, this is what EWI is talking about. Mesabi Trust has also taken off. IT isw reaching previousw resistance at 26-258, this will be a good proxy for the commodity investment choice.
I read an interesting comment on the Isreali War, the writer said al are worried that a wider conflict might break out. Hello, it is 10938, Hitler has crossed the Sudentenland, Team Biden isNeville Chamberlain, our Defense Secy says there are too many civilian casualties in Lebanon,
who stated this Lloyd? The wider war is here now.
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