The Daily Ticker | Less Stressful and More Profitable 1-5-23
Stocks refuse to go down. The trading range lives on! Even with the FOMC minutes confirming continued rate hikes. So how do we read the tape?
Not declining is different than advancing. One could interpret the lack of dominant selling as a sign that it’s over. A potential change of trend of you will.
As interest rates march higher, corporate earnings will continue to disappoint. As interest rates go higher we will pay more to borrow. As interest rates go higher stocks will go down.
Sure we’ll get a few bear market rallies but the market needs the Fed to stop, and then eventually cut rates. But inflation needs to come down before that happens.
Is this a doom and gloom prediction? No. I live in reality. And so should you. Especially if you are hoping long term losses come back.
I’m building a bias based on what’s likely to happen. And so should you. Trust me, it will save or make you a small fortune.
So what’s the upside? What’s the positive spin on this?
Volatility for one. Tape readers get the best market conditions. Fast price action and large “energy” candlesticks offer amazing opportunities.
Second is the generational wealth that unfolds when you buy good companies at a massive discount. Value if you will.
2023 promises to offer many good companies at a discount.
My plan is to trade for cash flow, build up my account, and get ready for the bargains.
Those without a plan and waiting for the economy to turn around are in for some pain before that happens.
Don’t hope. Plan. It’s easier, less stressful and infinitely more profitable.
Pete
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