QUOTE OF THE WEEK
“The secret of success in life is for a man to be ready for his opportunity when it comes.”
This week will be a short letter. I am recovering from a shoulder replacement surgery of a previous replacement that went bad which is why I didn’t publish the letter last week.
I am probably sure that you are wondering why we haven’t participated in the stock market rally this year. Don’t be fooled by this rally. It is a “false flag” rally. Only seven stocks are responsible for the returns so far this year. If you look at the other 493 stocks in the S&P 500, collectively they are down for the year. Earnings are declining and that should be evident when earnings reports for the 2nd quarter start coming out soon.
Next week I will go into more detail as to why the stock market is headed for a fall. We are still positioned in US Treasuries.