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Market is Running Late - 4/24/23

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And so am I. I'll be back in a jifffy, but meanwhile, check out this shit. Speaks for itself. 

Why Not Get Too Excited About Bearish Proclamations… Yet -uezb

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They're buying the 10 year this morning. Hard to believe, Harry? Not really, considering that in April the Treasury paid down $126 billion in T-bills and that next Monday, the Treasury will pay down $16 billion in coupons. It's the April tax windfall at work. The Fed’s Circle Jerk… Is ‘Twerking?

Although, gotta wonder how the threat of a US government debt default is playing in those weekly investment strategy sessions at major institutions around the world. 

The hourly chart of the 10 year yield should give us a tell over the next few days. It looks bullish for yield, which is of course, bearish for the bond market. But if it takes out 3.52, there's gonna be a downdraft. Why anyone would buy this now is the question, but the answer may lie in the shorts that are out there. Too many shorts end up being their own worst enema.





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If you don't want to hold doolahs, the yeerow is the next least worst alternative. And the hourly chart of the yeerow agin the doolah reflects that. It's bullish as hell. 


Every time the yellow stuff sticks its head materially above 2k, it gets whacked. But buyers seem to be showing up and higher prices every few weeks. Is Gold Still Ticking After This Licking?



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2 minutes ago, DrStool said:

Am I on the right message board? Talking to myself, dancing with my shadow. 

The fact that literally no one is here and no one cares, is wildly bearish. 

I'm here.

Busy with RL work.

Bored AF with this Merciless Mirage of Markets.

Compelled to watch playoff basketball every night (before Asia opens).

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It's also baseball season. My older son is playing JV and my younger one still little league. So, we run around watching youth baseball all the time, which is pretty much the most meaningful thing in the whole-wide world.

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