Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 14th of September.
The older I get, the more I realize that there are no new fiscal ideas. The Fed is basically recycling an old inflationary idea to try and get us out of the current mess. They are cloaking this in job creation, but what it tells me is that the US is in a far more serious economic condition than possibly any other time in history, including the great depression.
As for reducing the unemployment levels, that is going to be a much more difficult challenge as unemployment is going to remain stubbornly high. We are losing manufacturing jobs in the US and everything is turning or has turned to high tech and the Internet.
Take a company like Facebook, it runs on just three or four thousand employees. How are the Facebook's, Amazon's, and Google's of the world going to reduce unemployment? They cannot reduce their labor force and skill sets change in the blink of a nano second. A labor force that is uneducated, not online or too old, is going to have a tough time in the new online world. I know this sounds harsh, but that's the reality of today.
Back to the markets, as we go into this weekend it could be an excellent time to look for new 52-week highs in commodities, stocks, and any other market that is making a 52-week high.
Our Trade Triangles have been telling you that the equity markets and commodity markets were headed higher and that inflation was on the way for quite some time.
I will be out cruising in the Gulf of Maine aboard a three masted schooner for the next four days and will be pretty much out of touch. Jeremy will be doing the daily update for me until I return. Have a great weekend and every success trading these inflationary markets.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
Click Here to view today's video