There is lots to discuss after the long weekend.
Rosenberg and Bookvar had a discussion posted on Real Vision that needs a very deep look.
Spoo’s have gone vertical for 185 points without a 25 point back and fill.
Even when the 100X3 rallied 360 points in a straight line you still saw back and fill on the 25.
Yra posted his thoughts last night.
Who is buying and when does it end?
Do valuations matter?
Per a conversation with Adam Johnson, traditional valuation metrics make everything a trade.
Plugging in Rosenbergs thesis on demand, retail sales and a housing market starting to mirror 2007-8, it’s time to remain very nimble.
Oil elected it’s buy stops over the 2019 high.
I spent 45 minutes Sunday talking shop with my favorite farmer in Allenville Wi.
Sweet corn is central Wisconsin will be ready in a week.
Corn and bean crop is plentiful.
Most of the farmers he knows sold their beans between $8-12, hence the shortage in July contract.
Vegetables have been tough go with Squash having a difficult season as the weather went from dry to too wet and then dry again=Bugs.
Precious metals are this weekend feature.
Gold/Suisse is @ initial resistance. GoldinEuro will need a couple of days to maintain this level for higher.
I will be out of office between 10-1 today.