Thursday , June 30 2022
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Market has no chance to rebound with budget surplus.

Summary:
May still running a bln surplus. Deadly for market.

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May still running a $50 bln surplus. Deadly for market.
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.

30 comments

  1. Terence McKenna

    Tesla?

  2. Douglas Christina

    Mr Brian Nelson is the best, recommending him to all beginners who wants to recover losses like I did

  3. Mike, you looking at Texas to move?

  4. Driving a 2014 Toyota, what a success story

  5. Michael C Begin

    Ești un idol XX18LIKE.Uno mereu în inima mea 💋 frumos, dragoste, alegere, cultural. Sunt unul dintrev cele mai bune concerte….

  6. Great overview!!! Time to buy / keep buying on an averaging basis – with EU doomed the only place for big money to run is USA. Follow the international cash flows and deficit.

  7. Ruh Roh

  8. Thanks Mike for your update it is what it is just gotta be out of margin at these times which thankfully I am not in. Thanks for updating us enjoy your trip

  9. Been waiting for you to be upfront about this… Thank you.

  10. Have fun stay safe Mike!

  11. I dig that you have a life beyond the market. Enjoy the hiking.

  12. Van Thang Nguyen

    Surplus is needed in this environment. And government is not only caring about market, it’s a BIG DOWN!

    • surplus – taking money away from investors and the people – yeah we need that like a house on fire.. 🤦‍♂

  13. Christopher Gan

    Yada Yada but cool shades!

  14. Just admit USA is at war with Russia

  15. Finance & Economics

    Sell in May and get away from these markets. Good move!

  16. When is biden going to spend, spend, spend?! By all accounts and his words – he’s very proud of his beautiful big monthly surpluses..

    ‘F the people’ is the attitude though – thanks joe!

  17. Mike – today is no different to yesterday – yet your attitude is completely different.. that's the sign of someone who perhaps hasn't got a full handle on what's going on.

    I think your attitude today (and not the buy the dip hysteria yesterday) is the right one.. Biden is saving $$ like crazy and it's not as if Congress with a Democratic president is going to be in the mood to spend up big any time soon. <– THIS is the attitude.. not celebrating and buying the dip.. If we follow the trend of Biden – the dip is only going to get bigger so it's much smarter to wait..

    BUT even today you seem so confident things going to go into deficit but Biden controls that and he wants surpluses! Until the guy in the whitehouse changes then the market is going to keep going to 💩…

    I just hope that you think smarter and keep a more even head.. You seem to quickly forget from day to day who is control the strings… till that changes – nothing changes.

    Anyway – enjoy your hike Mike!

  18. I am The ONLY one with an applied understanding on what is really going on. The Only one

  19. Interestingly enough, Bill Mitchell's blog is all about what you just stated with the government surplus, except he does a deep dive into it.

  20. American Exploring

    Never ever predict where the market is heading. However, always hedge your positions. This is a lesson for all new traders.

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