What to do: “FROM HERE”
If you are looking for certainty, you came to the wrong place. Capital markets are notorious for inflicting the most pain upon the largest group possible, a daily Rorschach test of “what do you see?” Ten trading days ago oil hit a 52 week closing low of $66.74 on….recession worries? China re-opening overstated? Large inventory builds? It has since bounced nearly $10 and the only thing that really changed? CTAs got blown out. Period. Equity markets, on the other hand, have staged an amazing run during a banking crisis that may or may not be over and the fall-out from tighter lending clearly lies ahead. See below all three indices have turned positive on the Trend indicator, even lowly $IWM! AAPL 0.00%↑ is 28x this year EPS and its hard to fathom, after an awful December quarter and mediocre March qtr guide, that their business isn’t slower now than perceived 1-2 months ago. So what! The only question you need to ask yourself as an investor is: “What should I be doing or thinking FROM HERE”?
