A.M. Look 7/6/21

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.

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