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Classic monetarist reflex selling of the market today.

Summary:
A strong economic number, jobs, and monetarists sold the market. 

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A strong economic number, jobs, and monetarists sold the 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.

19 comments

  1. @mohamedmussa7627

    This channel should be way bigger than it is (but maybe it’s a good thing). Mike’s macro takes are the best i’ve seen around.

  2. @cryptoniteclark

    Net transfers are down by $210 billion compared with last year. What happened to, "I'm not a fan of this rally"? People aren't interested in predictions about net transfers, unless it translates to price. Isn't that why we're here?

    • U should be here to learn about something don’t know, not
      Look for confirmation bias. I love hearing his knowledge cuz he is learned, and he has made a living with his knowledge. He is sharing for free.

    • The differential between last year's and this year's net transfers gives an indication of GDP growth which gives an indication of market direction

  3. @metamoney7657

    I learned a lot from you but sometimes I wish you would not deduce everything to monetary flows, but maybe it’s that simple. I mean you’re teaching me, but it seems like these monetarist are a boogie man. Love all the videos

  4. In his characteristically witty style, Buffett wrote in the 1992 letter to Berkshire Hathaway shareholders, “We’ve long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie [Munger] and I continue to believe short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.”

    • This statement exemplifies Buffett’s belief that short-term market forecasts are not just unhelpful, but also actively detrimental to investors. Why such a strong stance? The answer lies in the volatility of short-term market movements. A dizzying array of factors can cause stock prices to swing wildly — economic data releases, geopolitical events, investor sentiment and even pure speculation. Attempting to predict these ever-shifting variables is like trying to read tea leaves — an exercise in futility.

    • A few elements that effect stock value: Earnings, Projected Future Earnings, Risk of Recession, QE, QT, Interest Rates, Trendiness, Bonds, Fear, Currencies, Geopolitical Situations, Media Hype, Irrational Exuberance, Bubbles (greed), Inflation, Deflation, War, Natural Disasters, Election Years, New Technology, Temperature, Herd Mentality, Fiscal Quarterly Tax Drains, Stimulus, Strikes, Raw Materials, Defaults, Credit Ratings, Hostile Takeovers, News, All Sorts of Crashes, New Competition, Strikes, Transportation/Shipping, Real Estate, Banking Crisis, Commodities

    • This was not meant to be a dig. I enjoy your MMT takes and “mental game” insights. You have a very sharp mind!

  5. @user-it1mc3nq7h

    ❤👁

  6. @eatlaughandstupid4430

    Yo Mike, you said you were going to buy some real estate. CA? I hope you do not leave CA. Always appreciate your takes. I have learned so much from you.

  7. Hi Mike. Where did you find the prices oil companies were selling for in the futures market. It was really great info, but I was driving home from work….

    Thanks

  8. Thanks for the updates Mike.

  9. Imo the reaction was smart money selling to the fools so they could scoop a little more up of the same on the cheap 🙂 I know you’re anti tech analysis (I find shorter time frame analysis fascinating), but, at least on NQ, they dumped it to the penny at a known fib extension /top…the algos were already ready 😂

    creeped right back up to around flat.

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