Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

Enjoy your Fourth of July

By Charles Payne, CEO & Principal Analyst
7/1/2022 1:42 PM

The session has those real lazy days of summer feeling layered over general anxiety and the daze of getting hit in the face with a brick.  Hence, rally efforts are feeble at best, but for the moment the market is holding on. 

I like that bond yields are easing lower even if the reason is greater conviction the economy is on or heading toward recession. It's part of the process to get us to the other side. 

Unfortunately, lingering issues from supply chains (i.e. semiconductors and auto companies such as General Motors (GM)) to central bank incompetence -see everything they have said and done the last two years- conspire to keep the market off balance. 

The top ten stocks in the market have lost a collective $4.0 trillion dollars.  I do not believe they were overvalued by that much.  Be that as it may, the pendulum always swings too far in either direction.

Enjoy your Fourth of July, and know we are going to make some big money in the second half of the year but what matters most is the market is linear and this is all an extension of past years and here are years to go.

Sure, the near term gets brighter when there is a major change in Congress in the midterms and recession treat fizzles before materializing or is shallow and short lived.


Log In To Add Your Comment

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.