Today is a day to mostly watch and analyze, filled out some holes in portfolio early on.. The steep discounts in the EV space Tuesday and Wednesday provided some real opportunity. My RIVN position was given an opportunity for a 75 % increase due to someone selling a lot of stock. So my total EV and semi-conductor space is in place. To me the opportunity over coming years will be in electricity related space and all the infrastructure that will be needed to build it out. Powell’s raid on the out of this world stuff, like bitcoin, meme, and gaming, has had a positive side.
Update at 11:55 PM CDT
Just watching the markets unfold this morning and going through my catalog of some 70 charts, this chart relationship jumped out. It is one that is useful for Macro Decision points and looks at 30 day Rate of Changes on SPX and the part of the yield curve that best represents inflation that the market is anticipating, the 30 – 10 YC.
What jumped out to me is that the last time the RATE of Change on SPX, the Blue line, reach this low a level was 3/11/20. And the same time the inflation expectations line, the green line, is at extra-ordinary levels, ironically at the same time basic commodity charts in things like copper and aluminum roll-over.