— The glories of high-frequency trading were on full display last Thursday as the S&P 500 turned a 1% gain into 1.2% loss for the day — It was all about the noise … the potential for a good jobs number being bad news for the prospects of a rate cut. — Last Friday’s rebound may…
Tag: Bitcoin
Flights to Safety: Treasuries, Gold, Nasdaq (?) and Bitcoin (?)
— What’s up with this foursome? Treasuries and gold maybe, but Nasdaq and Bitcoin do not compute. — Historically gold is not a glistening investment — We have seen the infatuation with tech before and it has not ended well. — Bad recollections of the demises of the ‘Nifty Fifty’ or the Covid Playbook … SELL ECONOMICALLY SENSITIVE, BUY…
Is that gorilla in the room an 800 pounder or 80 pounds?
— The gorilla, of course, is Fed policy and rising interest rates. — For certain segments of the market (Big Tech/The Innovators in particular) it rightly looms large. — For the rest of the market Wednesdays action was an exercise in ‘sawing sawdust’, reacting in a predictable way to old news. — The market sends a clear…
What Worries Me — December 16, 2017
Really nothing has shaken my confidence in the secular bull market that started in 2013 with the S&P 500’s decisive breakout above 1550. This has been a prominent theme in Kort Sessions since Session One (February 1, 2013). My optimism then and since has derived from the belief that monetary policy, providing a near-zero interest rate environment, in support of…