Chinese semiconductor orders shrank 17% last month. Their economy, ostensibly, is in shambles, which causes them to surprise CUT interest rates. That’s quite the juxtaposition against the backdrop of worldwide hikes. This, once again, has caused oil to Mcplunge into the ground, off by 4%+.
But it’s not all bad, since the US economy is seemingly ok. Then again, factory orders came out today and they were abysmal and the housing data is suggesting RECESSION.
There’s a lot of cross currents to take in and hopium is causing me to stay long without hedges. I figured since oil is crushed lower the retail trade is back on. We have seen this retarded trade happen all year, turning a blind eye to risk in favor of feeeeeeeeeeel good bullishness in consumer facing brands. After all, Amazon bought iRobot and people still enjoy drinking coffee, and back to school means the shopping malls will be brimming with maskless folks out and about in search for new stylist threads.If you enjoy the content at iBankCoin, please follow us on Twitter