The Daily Market Catch
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The One Big Thing
Back on October 2nd I suggested to clients markets would run up into Oct. 31 – and target SPX $3060 and NYSE $13,333 – with lower prices starting in mid-November through the end of the year. I consider current price action around this level to be ‘cruising altitude’ before it gets a little bumpy again.
In my article for MarketWatch, I predicted higher yields: Despite the Fed’s support, this stock market is headed lower
Then, just last week we had a historic move lower in bonds for which I was positioned for clients (short bonds and gold, long value and commodities).
Earnings Matter, and despite the tax cut 14 months ago (aiding the bump up in EPS growth to 28%), “organic” earnings growth (including stock buybacks) is slowing.
With the Permian Slowdown in drilling, my Reflation Thesis has more legs…
“U.S. shale is slamming on the brakes, which may yet engineer a rebound in global oil prices.”
Top Reads / Videos
Excellent thread. For those who think China is still deleveraging –
“China simply cannot reflate its (or global) economy anymore.”
For more charts and links like these check out my twitter feed.
To Great Fishing!
CIO LaDuc Capital LLC
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