The Humprey-Hawkins series of meetings between the Federal Reserve and congress kicks off tomorrow with the Federal Reserve Chair Jerome Powell and Congress. He's slated to appear before lawmakers
again for three days this week to discuss the central bank's activities and a range of
economic issues. The
pundits debate on interest rate cuts coming sooner or later with many thinking June time for some type of rate cut. Or perhaps the Fed may decide to leave rates alone ?
Today was a slight blood letting by the overall markets, the Nasdaq was down over 2 % even Apple stock is down over 5 points. The Chinese are advocating buy China and I-phone sales there are plunging. At same time, China has basically duplicated the I phone in their own manufacturers. But hey - That is What they do ! I am no fan of buying stocks with China. (Suggest to go on Kindle and download the sample of the book "Blood Money" by Peter Schweizer to survey an investigated look at how the CCP is waging a silent war on America using our very own politicians in government - against us. yikes!). On top of it, China is experiencing a slow down and a commercial real estate crisis as well.
So today, the pundits ponder if the bull market run has some cracks or if today's pullback is a knee jerk reaction to fear of how J. Powell's testimony may affect the market. Will a rush of buyers come in and buy dips? Perhaps but some will pull back further. At same time, after a run higher, it is normal to have a 5 to 10% entrancement in stocks and overall markets as well.
Crypto in terms of Bitcoin (BTC) and Ethereum (ETH) has been soaring but today we see a pullback off all time highs. After touching an all time intraday high, bitcoin then traded harshly down about. Whipsaws are more likely in crypto but at same time, bullish buying has been fueled with the new spot ETF's like IBIT and the coming "halving" set estimated to take place on April 19th, 2024 and will reduce the block reward to 3.125 BTC. This date is based on current estimates that change with every new block.
There
seems to be underlying reasons that bitcoin has soared. We will watch how the markets react in coming days to come.
One longer-term theme may persist beyond near term knee jerk moves. As
traders and investors watch current events in the country and the
world, certain macro-economic trends seem to be playing out. America is
being invaded by illegal immigrants from all over the world and our tax
dollars are funding unsustainable economic policies. It is
possible that such trends could cascade into serious repercussions on
the future ways of America. Add to the notion that confidence in fiat currencies around the world is waning.,
Before proceeding to Stock Talk let's acknowledge that sell offs in a position have a way of testing our conviction. Sometimes the tests call for circumspection before making the next move -- and sometimes we just want to pull the trigger and bust a move like the words - in or out - or add more or cut and RUN.
Stay tuned, I will have more to touch upon in Stock Talk. Since the day's market is now closed, it calls for a walkabout before commenting further.
Stock Talk
Let's take a walk-about and think about things.
For now, we close by noting that any view on the market and stocks on any particular day may change in the future days to come. That is why we watch and see how our views match up with the reality of the time. But trying to look ahead a few months into the future may be a way to do things. If you think too deep about world events and the recent alliances forming, projecting ahead can be a dicey endeavor. With all the above caveats and attempted prognostications, I will close this post.
Stay tuned for more opining on the market and stocks to watch.
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This site does NOT make Buy / Sell recommendations.
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