Postcards: Things I Think I Thought

A quote anthology starts with the first page. So, it also helps that I kept copious notes on cocktail napkins and old beaten-up notebooks... in a box my wife has wanted to throw away for a decade.

Market Update: Yesterday, oil cratered to $82 per barrel, and our energy reading in the ETF (NRGU) we follow as a signal will either bounce off neutral RSI and MFI readings (to signal the selloff is over) or it’s on its way to oversold. Let’s be patient because ample opportunity is coming to scoop up energy names in the midstream and downstream in what might be the last selloff for the sector until after the summer.

The 10-year bond continues to climb. We’re seeing weakness in the small-cap healthcare sector and broader weakness in the large-cap semiconductor field. I will note that energy stocks are finding support, and energy remains positive today.