No sooner than I posted and the Chicago PMI comes out much stronger than expected and contrary to the earlier GDP numbers that shows more of an overheating of the economy or at least that's the way the market is looking at things at these lofty levels. The story being sold right now is that we have a just right economy where the Fed has engineered a soft landing. Anything too hot or too cold douses the idea and causes selling.
I believe there is likely still a bid under this market and although I protected on that hard sell down, I'm looking to add back again.
I believe there is likely still a bid under this market and although I protected on that hard sell down, I'm looking to add back again.
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