AMT Top Ten Miscellaneous Musings for the 29th of March 2024
10. Holidays: We wish everyone a peaceful long weekend. Hopefully the price of your chocolate eggs have not emptied your wallets.
9. Superconductivity: Nuclear fusion and magnets have a future together. Efficient electricity produced via compact generation is being worked on by the Massachusetts Institute of Technology and the Jet Propulsion Laboratory of NASA.
8. TMTG: The Trump Media and Technology Group listed as DJT on Nasdaq ended yesterday’s trading within sight of 62.00 USD. The price is overbought taking into consideration its lack of revenues. However, because of its limited available shares, ‘shorting’ DJT is dangerous and a potentially expensive mistake.
7. Silly Season: U.S elections are growing closer and louder. However, fiscal and foreign policy clarity doesn’t get much airtime. Bread and circus for the masses.
6. Crypto ‘Insanity’: FTX Founder Sam Bankman-Fried was sentenced to 25 years in prison yesterday for his crimes. In the meantime, Bitcoin is over 70,000.00 USD this morning. Binance Coin is valued above 600.00 USD.
5. Frothy: Gold is near 2,230.00 USD per ounce, even as the USD grows in strength. Cocoa closed yesterday around 9,792.00 USD per metric ton, meaning it is more expensive than Copper, and the reason why your chocolate may be getting costly.
4. ‘Quiet’ Data: Core Personal Consumption Expenditures Price Index data will be released today in the U.S, this as the financial markets are largely absent. Yesterday’s GDP and Consumer Sentiment numbers were stronger than expected. The inflation statistics may not get much fanfare today, but paying attention to the results could prove worthwhile for speculators.
3. Risk Warning: The return of large trading volumes next week are likely to cause volatility as financial institutions reopen and are reactive.
2. Bias: Many major currencies are struggling against the USD. Traders who believe their chosen currencies have been oversold should contemplate their perspectives and potential bias. Just because you believe something, doesn’t mean it is true. Forex is expressing nervous behavioral sentiment.
1. Fed Watch: Many analysts are starting to believe the Federal Reserve may not be able to cut interest rates this year, but traders should remember politics will be crucial as the U.S Presidential Election approaches. The Fed may be ‘independent’ but they are not deaf. If inflation remains stubborn, the Fed will need weak jobs numbers. But weekly Unemployment Claims came in below expectations yesterday. Financial institutions understand the U.S central bank is in a difficult place.
