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Good morning…

It was a nasty week for the software people (like me). It was an OK week if you like industrial stocks.

The FED is in control of the markets right now and they continue to say that more rate increases are coming.

One year T-bill rates are at 4.9 percent so I am hiding out there, but most of the stocks remaining in my personal portfolio are down over 50 percent. I have done a terrible job hiding my remaining stock portfolio from the FED.

As always, Ivanhoff and I tour the markets looking for momentum and you can watch/listen right here. I have embedded it below for people that want to watch on the blof:

Here are Ivanhoff’s thoughts…

Last week, it became clear that the Fed is not pivoting anytime soon. The price action in commodities and the latest payroll report confirmed Fed’s fears. Inflation is sticky and the Fed will have to remain on its current course of raising interest rates and reducing its balance sheet. When the Fed removes liquidity from the market, most stocks are likely to get a lower valuation.

Despite the selloff in the (Read more...)