Hey friend,
The usual weekly jobless claims came in at 215,000 – slightly higher than expectations and higher than last week’s figures.
Revised Q1 GDP growth numbers came in at 1.6% – compared to consensus estimates of 2.0%.
And the Fed’s preferred inflation gauge – the PCE index – showed a 3.8% annual increase, higher than last month but in line with expectations.
The question on many economists’ minds is – how much worse will inflation get before it gets better?
Let’s see how the markets have been moving.
The Daily Direction
Note: Indexes closed slightly lower yesterday but have generally been moving higher today – keeping all index directions in the green.
The Daily Nugget
The shorter the time frame, the more irrational the market.
Warren Buffet’s mentor, Benjamin Graham has a famous saying:
“In the short run, the market is a voting machine but in the long run, it is a weighing machine.”
What he means is that in the short term, stock prices are often driven by investor sentiment, market trends, and speculative forces…
Leading to stocks easily being “voted” up or down in price – often independently of fundamental value.
In the long term, however, his view is that stock prices do indeed trend back to fundamental, or intrinsic, value.
In other words, so-called “rational” value.
Of course, both Buffet and Graham were both long-term value investors.
And that’s not what our strategies here at Traders Agency are designed to serve.
But Graham was definitely right about the market being a voting machine in the short term.
The shorter the time frame, the more irrational the market.
And that creates opportunity.
As Head Trader Ross Givens explained in his newsletter this morning…
Right now, Q1 earnings releases are creating massive reactions in the market…
Some of which are “irrational” short-term overreactions.
And the corporate insiders – those who are truly aware of what’s going on – are exploiting these overreactions…
Using an SEC loophole to snap up their own company stock.
That’s why tomorrow, Friday at 11 a.m. Eastern…
Ross will be going LIVE to show you a brand-new tool that will not only let you track the trades of the corporate insiders…
But the POLITICAL insiders as well.
You already know they have access to classified information…
You already know they make fortunes trading stocks…
And tomorrow morning, you’ll see how you can know EXACTLY which stocks they’re buying and selling.
This is a state-of-the-art piece of technology that puts YOU in control of tracking politicians and elite traders who make fortunes in the market…
So click here to register for Ross’ free live demo tomorrow…
And Ross will see you Friday morning at 11 a.m. ET.
The Traders Agency Team
P.S. Planning to attend on a mobile device? Make sure you download the presentation apps now so you don’t miss a second of valuable information.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
