On this edition of The Big Picture With Jeff & Roger…
The Federal Reserve is creating an international crisis…
And there’s no rest for the weary because we have the latest must-see monthly report coming this week when the Consumer Price Index for September is released at 8:30 a.m. EDT on Thursday…
This data dump has become the Super Bowl for Wall Street because the market could either shoot up… or crash yet again… which has been the case for most of this year.
That’s thanks to these fools at the Fed, who have way too much power and are like a terrible trader who’s always doing the wrong thing… They’re going long when the market’s about to sell off, and going short when it’s about to rise.
The Big Picture With Jeff & Roger
We also have the Producer Price Index and retail sales this week, more market-moving data…
And on top of a Fed that can’t get out of its own way, we’re also getting nonstop bad news from around the world affecting the U.S. market, which is so data-sensitive right now… And that’s thanks to?
You guessed it… the Fed, which won’t stop crushing the economy until the CPI comes down and unemployment goes above 4.5% to 5%.
The Nasdaq is down about 30% on the year and we’re faced with nonstop selling just about every day. So people are throwing their hands up in the air and giving up on the stock market. It may sound counterintuitive, but that’s when I start considering getting greedy…
No, I don’t mean it’s time to go all in. But it could be time to start deploying some dry powder — cash you have on the sidelines — into good stocks and companies that we know are going to be around in five to 10 years.
I feel like this is the late stage of a super bearish move down. We just can’t see another CPI number above 8% year over year because that means that it’s continuing to grow at that level every month while the Fed has already raised rates over 3.0%.
We have to see that what the Fed is doing is working.
Because so far it hasn’t. It’s made everything worse and there’s a case to be made that we wouldn’t even have a recession if not for the central bank doing everything wrong.
But enough Fed bashing… All that said, the time to sell stocks has passed… In fact, it’s time to start considering stocks in the best companies out there because we are so far oversold, that some of these stocks look cheap.
And there’s room for a relief rally into the end of the month. Check out The Big Picture With Jeff & Roger and let’s discuss what we see playing out, and a few stocks and sectors to consider.
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