Bounce Chart News Today

Back on May 5th, the day before I left for Vegas, I reminded our Members on "Federally Fueled Thursday – Don’t Get Excited!" – as we were coming off a Powell-fuled rally – that coming back to S&P 4,300 at the time – was nothing to celebrate and, in fact, we took that opportunity to press our hedges.

Powell emphasized we have maybe two half-point hikes ahead of us and the market loves it this morning! Yield curves are flat, which reliably predict every recession – gotta love that! 3.5M people have left Ukraine, causing a refugee crisis in the rest of the World – more love. One-month anniversary of a war thats getting worse – love it.

Come on, this is silly: Now the entire stock market is trading like BitCoin. Its hard to call yourself an investor when the market can swing like this in a 24-hour period, isnt it? At least in Vegas, you know why you won or lost – the little ball fell on a red number, not a black or whatever. Try, on the other hand to explain why the Nasdaq fell 7% on Wednesday and then gained 7.6% on Thursday – theres no logic to it.

WAR!!! What is it good for? Well its great for commodities as Oil (/CL) has jumped up to test $100 per barrell and Gasoline (/RB) has popped over $3 and Natural Gas (/NG) is surprisingly lagging at $4.83 – but it will get there shortly (we played it long at $4.57 in yesterdays Live Member Chat Room).

Sanctions! Thats how the US and NATO are responding to Putins entry into the Ukraine and note there is only one red box in the area were paying attention to but many, many red boxes now surrounding the country.

Whatever the next rumor is. Now the market is running based on troop maneuvers in the Ukraine. Early this morning, Russia’s Defense Ministry said it had pulled back some troops from near Ukraine while noting that large-scale military maneuvers were continuing and Western officials warned that combat units were moving into forward positions.

What is a fish flop? Thats where you have a fish that is still alive on the deck of your boat and its gasping and flopping – but soon to be dead. That is not the same as a flip-flop – in which the markets reverse direction. This is not that, this is much more like only bouncing around because death is creeping quickly towards them and they are trying to escape.