I am long Chicago, Kansas City, and Minneapolis Wheat, Oats, and Gold on a thruster.
Friday’s unemployment report is a killer. The economists are dissecting the report and looking for the bright spots, but there is nothing good about a 10% jump in the total number. The Fed Funds and Eurodollar markets are signaling stagflation, so I load up on commodities.
People love buying stocks at a discount, but what they don’t realize is that very few stocks will do extremely well over the next five years. Commodities are and will continue to outperform stocks, but different sectors will rotate and take turns advancing. I avoid all stock markets worldwide at this moment and reevaluate next month.
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