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I had a meeting after the close, so I won't have time to write up an evening letter. Nothing really happened though. Crude oil backed off a little so asset prices lifted and yields came in a little. The dollar was flat, and BTC picked up another 2 percent. Gold and silver bounced but gave most of it back, and the GDX flirted with the 5 dma before closing below it again for the umpteenth time since the April high, which leaves the bears firmly in charge.
At this point, we're just waiting for crude oil to scream to new highs, which it will do whether or not the war reignites as the cogs of supply and demand slowly begin to turn and ratchet prices higher. That's when bad stuff starts to happen in asset prices. I made no changes to my positions.
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Disclaimer: Lance
Lewis periodically publishes columns expressing his personal views
regarding particular securities, securities market conditions, and
personal and institutional investing in general, as well as related
subjects.
Mr. Lewis is the president of Lewis Capital, which is a registered
investment advisory firm in Dallas, Texas. The firm regularly buys,
sells, or holds securities that are the subject of Mr. Lewis’
columns, or options with respect to those securities, and regularly
holds positions in such securities or options as of the date those
columns are published. The views and opinions expressed in Mr. Lewis'
columns are not intended to constitute a description of the securities
bought, sold, or held by the firm in its capacity as an advisor.
The views and opinions expressed in Mr. Lewis' columns are also
not an indication of any intention to buy, sell, or hold any security
on behalf of the advisor’s clients, and investment decisions
made on behalf of clients may change at any time and for any reason.
Mr. Lewis' columns are not intended to constitute investment advice
or a recommendation to buy, sell, or hold any security.
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