This may be strange coming from an expat living in Spain but you guys have no idea how much I miss going to a good ole’ fashioned American diner. No not one of those fake copies in L.A. they build on top of the original ones after tearing them down. Yes, I’m looking at you Mel’s – what the heck were you guys thinking? A solid American diner has an ambience unique to where it’s located, it must have a zany 1950s interior, there need to be impatient chain smoking career waitresses, and the food of course needs to be delicious with generous portions to boot. My favorite diner in the world is Carla’s Route 66 in Twentynine Palms – I think it used [...]
Like dominos, one by one, the doves at the Federal Reserve appear to have fallen over the past few months. The final and most important one is widely expected to at least tilt a little later today at 1:00pm when Fed chairwoman Janet Yellen is scheduled to deliver her much anticipated speech. Equity markets have responded accordingly which brought a final end to one of the longest lasting rallies in which I had the pleasure of participating in my trading career.
No matter where you stand politically and what you may think of President Donald Trump, you’ve got to admit that he’s a pure breed optimist. And just maybe, despite all the media poison and the political infighting, it is that very sense of good old fashioned American can-do optimism that continues to fuel the flames of the Saturn V mega rocket that has propelled equity markets to all time highs with apparently no end in sight.
It’s lonely at the top, so the saying goes. But we’re not even at the top yet and I am already noticing a distinct lack of good company. I was pondering a bit yesterday on the fact that I hadn’t seen a single joyful comment regarding the ongoing two week plus rally, especially given that there hasn’t been a single attempt to produce an obligatory correction. What I did notice was a heck of a lot of chatter regarding the miners and pretty much everything else. The big elephant on the trading floor remains to be this relentless equities advance which for some reason is barely being talked about. Not counting of course the obligatory MSM clickbait attributing it [...]