Recent news contributes to about as tricky a backdrop as one could wish for, making for an excellent environment for fleecing the lambs…
Pre open on Friday…stock index futures jumped on surprising news of much weaker than expected non-farm payrolls…And this following Wednesday’s very strong ADP payrolls data…go figure…
BUT hourly earnings jumped 0.5% for a year-over-year growth of 3.9%, the biggest gain in five years….Plus, crude oil is hitting new all-time record price highs…
So inflation is rising…Stagflation is here…The piper will be paid…I am still more willing to sell rallies than buy dips.