How "High" Will The Market (and This Man) Get?

Random observations in a Timonium ShopRite ahead of inflation and the latest Federal Reserve buying spree.

Reminder: It’s Friday morning, so I’ll be live today talking about reversion trades and opportunities for traders in names like Gap, Nvidia, and Tesla this morning. I’ll be live at this link - TheoTrade Market Masters - at 8:45 ET. If you’ve never attended, click the link, type in your name, and join the chat. The show goes live in 15 minutes.

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Good Morning:

Last night, I was researching the latest news about the Federal Reserve buying even more U.S. Treasury Debt… and thinking about the stock market's next path.

I took a break.

I went to the grocery store for some Snyder’s Pretzels.

Around 9:45 pm, I pulled into a quiet parking lot. As I got out, another man was walking toward the entrance. He looked very peaceful… smiling to himself…

I entered the grocery store… and a few customers were checking out. I thought they were looking at me when I entered.

It didn’t take me long to realize who they were reacting to…

I approached the chip aisle. And there was the man who had entered just before me. And suddenly this wave of cannabis spilled over me as if I had just entered George Clinton’s tour bus - and the doors had slammed shut.

It was potent, to say the least.

I continued walking down to where the pretzels were.

This man was settling on a bag of Kettle Chips.

I briefly went to a few other sections, settling on an impulse purchase of a bottle of flavored club soda and a small pack of Twizzlers. As I left, the man was sitting between the outside and inside doors on top of a motorized shopping cart.

His eyes were bloodshot, and his entire hand was full of chips. And he was smiling like a hyena and eating chips at full blast, as if nothing else mattered more.

As I walked out… I wondered what he’d say if I asked him his thoughts on how the Federal Reserve is monetizing U.S. debt… how we’re facing yield pressures…

And if he is worried about anything.

And I mean… anything…

Because he was getting after those chips.

I know the answer.

And I sometimes envy the bliss of economic ignorance (but who knows? Maybe he had a Ph.D. and was taking a break from his very successful cannabis farm.)

We live in such an insane period economically that I wonder if it is best to know nearly everything about what’s happening (and let it dominate my academics and career) or if it best to simply let the chips fall where they may - and in this case - the ones that don’t make it into the very high man’s mouth.

Let’s get to the stocks to watch today… and our daily recap of momentum, insider buying activity, and more.