E Market Briefing For Wednesday, Aug.25

Summer slumbers stay shrugged-off, although there's a lot that sobering to the world, to our major Allies, and with curiosity about what really happens in Kabul next week, given it's hard to belief POTUS didn't thumb his nose at the Taliban and care more about cooperating with our NATO Allies who went into the combat zone at our request, and who also need to extract their people.

With that said (and a feeling that Biden will feel pressure if we leave any large number of Americans, Allies or support staff, and not conform to the 'red-line' a Taliban spokesman mentions. Or maybe the secret meeting of CIA Director Burns with the Taliban chief, didn't result in a successful 'pow-wow' basically.

Meanwhile there's a lot of money sloshing around, and the last time I used the term in a concerning way was 2007 when anticipating an 'Epic Debacle'. That isn't on the menu now, but tomorrow's Jackson Hole reflections from the Fed heads, might serve to remind us that the Fed itself is a huge contributor to all of this, and in fact we knew that on the eve of calling the March 2020 bottom.

Now we're in an extended 'lala land' for the Indexes, but not broad market. So an argument exists (I'm part of that) for shakeouts within context of uptrends in an overall sense. But there are no bargains in the expensive merchandise (and at a certain point the big momentum stocks have to be viewed thusly), since a lot of the fundamental rationale for their pricey is often (not always) ludicrous.

1 2 3 4
View single page >> |

This is an excerpt from Gene Inger's Daily Briefing, which typically includes one or two videos as well as more charts and analyses. You can subscribe for  more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.
Adam Reynolds 3 weeks ago Member's comment

How much will #Amgen pay to acquire #Sorrento? 🤔