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It's no surprise to me that stocks aren't doing much of anything right now.
Sure, there's Wall Street's annual "Sell in May and go away… to Nantucket or the Vineyard" summer slowdown in action, but even with a Fed rate cut two days away and earnings season in full swing, it's quiet out there.
It's because the market has already priced in the rate cut. Investors are giving it a 100% chance, as in "foregone conclusion."
There are still some talking heads out there going on and on about "a half-point cut, to stimulate a slowing domestic and global economy," but that's just wrong, and it's filling a lot of heads with the wrong idea.
These analysts know the price of everything and the value of nothing. Me, I've had the Fed clocked for years… Greenspan… Bernanke… Yellen… and now Powell. I can see 'em all coming a mile away; I always could. They're central bankers after all.
Let me fill you in on what's really happening… and why it's happening.
About the Author
Shah Gilani boasts a financial pedigree unlike any other. He ran his first hedge fund in 1982 from his seat on the floor of the Chicago Board of Options Exchange. When options on the Standard & Poor's 100 began trading on March 11, 1983, Shah worked in "the pit" as a market maker.
The work he did laid the foundation for what would later become the VIX - to this day one of the most widely used indicators worldwide. After leaving Chicago to run the futures and options division of the British banking giant Lloyd's TSB, Shah moved up to Roosevelt & Cross Inc., an old-line New York boutique firm. There he originated and ran a packaged fixed-income trading desk, and established that company's "listed" and OTC trading desks.
Shah founded a second hedge fund in 1999, which he ran until 2003.
Shah's vast network of contacts includes the biggest players on Wall Street and in international finance. These contacts give him the real story - when others only get what the investment banks want them to see.
Today, as editor of Hyperdrive Portfolio, Shah presents his legion of subscribers with massive profit opportunities that result from paradigm shifts in the way we work, play, and live.
Shah is a frequent guest on CNBC, Forbes, and MarketWatch, and you can catch him every week on Fox Business's Varney & Co.
I agree but no reason why we should be the only smart guy in the room. One buck = two Euros? Not what we need.