Here is an actual tweet from Fat Nixon:
If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%…with almost no inflation. Quantitative tightening was a killer, should have done the exact opposite!
There is no mention in this fat tweet that the previous fed chair and dove Janet Yellen was fired by Fat Nixon for the lackey in place right now.
A much better and funnier tweet by Fat Nixon – that I write for him – should read:
If the Fed had not raised interest rates Tiger Woods would have 20 majors
I will start this Momentum Monday with the fact that investors today can get 2.5 percent on their cash. While that has not been cause for alarm or a flight to cash, I say 2.5 percent is not too shabby. Here is a link to my friend Gary Zimmerman on how to get 2.5 percent FDIC insured. (disclosure – I am an investor in MaxMyInerest)
Enough with the conservative talk…you came here for momentum and momentum I will give you (with Ivvanhoff).
Here is this week’s episode – watch and or listen – where we tour the markets and notice much of the same patters – payments, security and software continue to lead. At the end of the episode I spend some time talking about the breakout in Disney on the launch of Disney+.
As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.
Have a great day.