Afternoon Note
There were some peculiar actions, including the continued crash of commodities, sluggish ten-year bond and financials misreading the script. Lots of tech names that are not in the S&P or even NASDAQ are rocking higher.
Yep, Fed fund rates will move off zero one day...but that day is a long way from here - a very long way.
But interest rates have been at zero, and the Fed has been buying $120 billion in assets for a long time, swelling their balance sheet past $8 trillion. The fact they are going to someday stop buying and lift rates a little is actually great news.
They could not do that in a weak economy or one that had potential speed bumps ahead.
For investors, the crazy knee jerk reactions should be the time to look for buying opportunities. Selling with the algorithms, crowds, and so-called smart money would be a mistake. It has always been a mistake. That doesn't mean there should not be caution, but everyone should have their heads on a swivel, not in the sand at the bottom of a foxhole.
I'm very serious about this. It's why I often root for crashes to be sharp and fast like last March, which didn't give a lot of people the chance to panic. That same degree of decline over a longer period of time would have seen millions more sell billions more at huge losses that would have set them behind years. There are millions that still haven't recovered from panic selling in 2008-2009.
Please be cool and please be ready to make money. Have cash, hold the names with great fundamentals, sell the others, but do not panic. If you are not currently subscribed to our premium Hotline service, now is a great time to get started. Email us at Info@wstreet.com.
Have a great weekend.
Comments |
Excellent advice...thanks Charles! Trev on 6/18/2021 2:24:47 PM |
Thank you Trev. CP Charles Payne on 6/18/2021 2:26:34 PM |
I wasn’t totally accepting the new holiday Juneteenth … Until I heard your monologue on your show today.… It touched my heart and my brain. Matthew Rattay on 6/18/2021 3:40:47 PM |
Thank you so much Matthew, Honestly, we don't need more federal holidays so I get where you are coming from and some are trying to twist it a certain way but they twist everything a certain way. CP Charles Payne on 6/18/2021 6:41:31 PM |
Thanks Charles, very good advice, seen a lot of this in my 62 years of investing. Keep up the good work! Greatly appreciated. DR Dennis & Judie Reitman on 6/18/2021 11:19:33 PM |
Thanks, Charles - your calm approach is so welcome. Let's find some bargains! Bert L Brooks on 6/19/2021 12:54:53 AM |
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