Postcards: Learning How to Lose...

Whether you're a trader or an investor... you need to think about the exit before you hit the Buy button.

Market Update: Buying conditions in the housing market continue to erode. Today, home sales took a hit despite a recent uptick in inventory. This chart tells you everything you need to know about the state of affairs. Consumer surveys show buying conditions hit their worst level since the early 1980s…

But it won’t improve until inflation is finally drowned in a bathtub. We should have gone to 6%, and we should not have printed so much money. When rates go down… it could worsen… as many people try to sell and upgrade simultaneously.

Just FYI, markets are overbought on the S&P 500… and that’s usually a recipe for profit-taking across the board… especially after the Fed minutes showed more concerns about inflation.