Up, Up And Away!
CPI runs light, hopes of an October 2022 retest erode, and bears are becoming bulls. What could possibly go wrong?
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Yes, That Is Laughing You Can Hear
Recall in 2022, the narrative was, your stocks are going to zero, because if rates don't kill you, if inflation doesn't kill you, then the recession induced by the Fed is going to kill you, so, choose your method of portfolio destruction. Or, went the little voice placed in your head, sell your positions now to Big Money so as to avoid further pain. And many did sell, unfortunately for them. Big Money, however, bought. Accumulated from May 2022 until around May this year. At which point they sat back and enjoyed the markup gains arising from late buyers chasing into the market.
Listen closely outside the offices of any fund manager or insurance company in the city nearest you. Press your ear to the wall. Is that …. laughing?
Yup. Laughing. Rolling around on the floor laughing. They took grandma’s money - again!! Too easy.
So now their task is, let the markup run before moving into distribution. Selling to the masses just as the masses regain their confidence in markets.
Premium and Pro subscribers here have been able to use our charts and defined accumulate / markup / distribute / markdown zones to tag along with this hilarious Big Money game by buying at the lows and holding fast through this major up-move. Now the task is to judge for how long and how far Big Money is going to push this move, the better to then distribute around the time that those laugh-a-minute folks in the big tall buildings are doing the same.
Here’s today’s charts for Premium and Pro members. As we mentioned earlier (here), from today this service gets an upgrade to include crypto pricing data, ahead of our 1 July price rise - details in that link above.
If you’d like to sign up before the price rise you can do so right here.