- The market appears to be taking a bit of a breather as we await the Friday jobs data.
- The route in Hong Kong continued last night as the market traded down 1.8%. That slide has to end before global markets can stabilize.
- Gold has been making a stealth move higher (currently 2% higher). Is this a return of the fear trade, a return of the inflation trade or a bit of both? Either way, it looks like John Paulson wins again….
- Since when did we allow our markets to be dominated by a $4 stock (I know AIG is “$40” now, but don’t let that reverse stock split fool you)?
- Speaking of AIG, did that reverse stock split actually create the psychological catapult that the company was hoping for?
- Volume is relatively heavy again today even though the market is flat. Downside volume is dominating the action again at 2:1. Weekly breadth figures have turned decisively negative. There is no longer any leadership in the rally. Look out below….
![Cullen Roche](https://pragcap.com/wp-content/uploads/2022/01/Headshot2022-1-144x144.png)
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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