Just Remember

Just remember the consensus is always wrong.
Everyone is crying for lower interest rates. It is not going to happen. The Fed is smarter than what they are being given credit for in this market. Inflation is a global challenge right now....India, China, Australia and Europe are also fighting this new phenomenon. Labor, raw material, food and capital costs (money) are all going higher not lower because of global economic strength.

The Fed wants maximum pain for the mistakes that have been made but also doesn't want to bury the financial system. Thus the 1/4 point move and today's current solution in coordination with the Europeans on billions of new money being available through the discount window.

Financials, transportation and retailers will continue to under perform. Materials, food, nat gas and all things related to hydrocarbons will outperform.

The emerging markets are expensive relative to the MSCI World Index. In other words the developed nations are a better buy than the emerging countries......also a contrarian position.

Gold, Oil and Natural gas continue to lead the way and support the global strength thesis.

Harvey Mackay has several famous sayings, "Believe in yourself- even when no one else does...don't ever quit, there is no "I" in Team and finally act like your mother is watching".


The USA remains cheap and a buy. Take that all you bears!


Barkly seen here as he stood his ground defending his team every day and night...we really miss him right now.