No Panic Yet

It is early, just 8:40 AM CDT. Market is sharply lower but gold is also lower. That is probably all we need to know at this point. The bulls still see the FED as their savior, they are just mildly…Continue Reading →

The Normal Attraction is Strong

This morning we are seeing a bounce back of almost half of yesterdays market move. The manipulators still have home field advantage, but we are still in the first inning. A Sad Time for America The lack of an organized…Continue Reading →

The Pause that Refreshes

As all of you know well, trading the Macro side of the market requires absorbing a tremendous amount of bullshit as things unfold. Yesterday was one of those kind of days, a day to reassess and move forward. Following up…Continue Reading →

This Market is based on a hope that the old Normal will Persevere

It seems events are kind of pushing my philosophical string today. I heard an interview today where the interviewee made the statement shown in todays title. People are looking through all the badness and are clinging to a vision that…Continue Reading →

It’s the Economy, Stupid

Yeah, the economy is in bad shape but any of us paying attention are behind the eight ball. How long can this go on? We know what we are dealing with and have been for the last two years. A…Continue Reading →

Second Piece of Data

In reviewing where economic things stand I have started by updating one of my more important Macro Picture charts, the F3 Asset valuation chart. While we have been seeing a constant wave of manipulation for some time, today may be…Continue Reading →

First Piece of Data

What to do with New Information

Over the years I have tended not to react to new news. First one has to find out that it was new news. One has to keep in mind that the economic cycle turned down in October 2018, and that…Continue Reading →

Setting the Hook

A few days ago we outlined the fundamental Macro picture that we see unfolding from here. With that the core position is in place. The next step is to set the hook on the technical side of the trade. We…Continue Reading →

Manipulated markets can be Brutal

This morning I feel a bit like I did in the 1980’s when I was fighting the Bunker Hunt silver market rally, trying to be short, but running in a state of disbelief towards the end of the move. All,…Continue Reading →