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Afternoon Note

Lots of Ebbs and Flows

By Charles Payne, CEO & Principal Analyst
10/1/2021 1:24 PM

Once again lots of ebbs-and-flows in the market session. This feels a little different than the rest of the week that finished with major swoons into the closing bell.

This feels different because

Even though inflation is a problem, we are dealing with it. We can imagine what that means when this scourge is under better control and it’s no longer the reason to restrict the economy or tamp down on individual rights.

We are ready to breathe a sigh of relief maybe as soon as Christmas. The market is going to sniff that out like it did last spring when rallies were met with wide-ranging skepticism. Only to be proven right with one of the shortest recessions ever.  That V-shape bounce last summer was right. 

Of course, there are wildcards including the insanity in Washington D.C. where the push to transform the greatest economy in the history of mankind into a social welfare state. That grinds my gears, because it buys itself with redistribution of wealth at the expense of future growth, of our greatness.  At the expanse also of our children, who would love to earn it, rather than having less handed to them, no matter how good the intentions.

Anyway, this feels different and I think we see it up into the closing bell. I'm going to the movies tonight to see "The Many Saints of Newark." https://www.hbomax.com/many-saints-of-newark?gclid=CjwKCAjw49qKBhAoEiwAHQVTo2XXOeulmwh_mt1QvvyF1dlJIvDxvmvrnNKge-hAaT7iERhd77UNUhoCBpEQAvD_BwE&gclsrc=aw.ds


 

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