MARKET COMMENTARY: 11/08/17: by Woody Dorsey:
IS THERE A FEDERAL RESERVE? Note that what is seen and heard is not necessarily the Reality. All we know is what happened but not what is going to Happen! My profile for an important low in Crude oil in late Summer was surprising and it may still be. It did infer that Geopoliticals might become active. They have. This is still a Tell and, it fits with the sustained bid in all Hard Assets and even Crytpo Currencies. Something is going on. Reflation is a Reality that will become Recognized. This also speaks to the lack of Central Banking. They are still at the “Lapdance of Liquidity” party. Yellen was coy and cute but only had a forgettable cameo appearance. Now, Powell comes along. His predictable and staged policy pap will likely be more of the same dovish double talk. The Risk is, and how sweet it would be, if markets really have move without him. And, they will, next year. Why we have not had a real Federal Reserve chairman since Volcker! Money is still cheaper than Cheap. Tweet Tweet won’t work forever. Meanwhile, as you know, Stocks are entering a sensitive time frame which may not necessarily be more of the same forever. This is not Reality people. Until then, enjoy the Show!
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