Thursday , June 30 2022
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Today may have been the bottom

Summary:
Surplus shrunk to .5 bln. Will be back in deficit by early next week. Today could have been the bottom.

Topics:
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Surplus shrunk to $21.5 bln. Will be back in deficit by early next week. Today could have been the bottom.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

21 comments

  1. And the Marfa lights…..and the moon eclipse too

  2. Man when the bottom hits and your in a tent ⛺️ you played it wrong 😂

  3. Brother if I was there we'd smoke a peace pipe and I'd set you straight. Highest inflation and fuel prices in history consumer spending and online sales declining hugely…. The economy is the economy but the consumer is getting slaughtered everyone knows this unless they are living in a Tepee! hahaha Enjoy your trip~! There's a case for new highs or an oversold bounce but who in the f^@% in there right mind would do anything but trade it????? Personally I don't need the money that bad the risk is not near the reward… the algo's will win….

  4. Glade your enjoying your trip. Tranquina is an interesting town. Ghost Town . Make sure to take it slow. The heat can catch you by surprise.

  5. Go ahead and turn the AC on. Has an hvac tech I can say it won't hurt the AC. We run AC units in hot temps all the time.

  6. mike has all the right calls hes going full indian chief maybe a ufo will fly over

  7. So you can't use the AC if it gets hot?

  8. Finance & Economics

    😎 tipi, haven't seen one of those in awhile

    As far as this being a bottom, I don't think so. Still too many uncertainties, too many risks. The war could escalate. Interest rate increases will require that asset prices be adjusted down.

    At this point, it's best not to focus on the day to day action, the near term trend is down.

  9. garyseeseverything

    Dang #1 in the states for darkest night skies very nice I will visit the place soon.

  10. I couldn't resist today's capitulation, bought the fire sale big time. Waiting for hard morning sell off to buy extreme fear and today it came, in my opinion.

  11. Thanks for keeping us posted all day Mike! Enjoy your trip!

  12. You flip more times than a butterfly in a hurricane. Get off Youtube and give your subscribers their money back.

  13. Guille William

    A lot of people have lost a lot of money, i dont think we have seen the consequences of this yet. I havent seen so many people losing so much money before

  14. Thanks Mike Enjoy the trip

  15. This is him trying to stay positive while he's second guessing his thesis because things aren't going like he planned. His attitude and demeanor are scared. Must have lost a lot of serotonin the past week. Be safe man. If things continue to get worse, please don't make any rash decisions.

  16. Thanks, Mike! Have a safe trip!🥰

  17. Dimitri Van Camp

    Who is here because of the "Peter Schiff was right" video? 🙂

  18. How does one follow this gov surplus thing? Website?

  19. Thats a great spot mike. COT report not great today, thats should make about everything negative for the markets atm.

  20. Hugo SALINAS ALIAGA

    watched three videos so far and his predictions have been wrong

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