I’ll have my No. 1 long and No. 1 short for everyone in attendance LIVE at 2 p.m. ET today!
I can’t say I’m getting bullish just yet, but I do like what I’m seeing so far this morning after a brutal sell-off that saw the S&P 500 fall into correction territory.
The market was already up strong ahead of the latest Consumer Price Index inflation report, and the numbers sent things sharply higher…
CPI year over year came in at 2.8% vs. consensus expectations of 2.9%. Excluding more volatile food and energy prices, the YoY number came in at 3.1% vs. consensus expectations of 3.2%.
The most important thing to me was to come in lower than the numbers a year ago, and that helped give stocks an even bigger bump. This is a very good report that’s likely to lead into a very good day for stocks.
The market had already gotten a boost in part because Trump said he believes we won’t have a recession after previously saying it was possible. Semiconductors also got an upgrade, and the VanEck Semiconductor ETF (SMH) is up over 2.5% ahead of the open.
There is, however, still a very big area of concern: The long bond (TLT) is falling, and that’s NOT good…
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. I Have Stock Picks Waiting Just for You
I’ll give away my No. 1 stock to buy and No. 1 stock to sell at 2 p.m. ET today, March 12 — and more…
Don’t miss your chance to get in on the action!
