Another slow day on Wall Street. Stocks up a little. Gold down a little. A hot summer day. Ain’t nuthin’…
Investors are wilting. In these hot, hazy, humid days of summer, they are growing languid, squishy… and soft. They go to the beach. They think of other things. They read novels… or the mainstream press. Their brains turn to mush.
There is little to report from yesterday’s market action… which leaves us free to think about other things.
What will we think about?
Is it a revolt?” Louis XVI asked the Duke de La Rochefoucauld.
“No, sire, it is a revolution.”
We are already at the Ides of July. More than half of the year is already behind us.
Friday, markets were flat. Neither gold nor stocks did anything worth reporting.