"Let's ride this pony as far as she can go... I don't think we're in a new paradigm" says @stephenweitzel talking about marrying valuations with the Technicals. He's breaking it down LIVE on The Morning Show @StockMktTV w/ @sstrazza - Come tune in: https://t.co/u5d3bti38b
We asked Claude to rate Warsh's public comments. First, in May 2008, Warsh was concerned about inflation despite the weakness in the jobs market. Next, he never updated his priors about QE, fretting about inflation for years despite it running below target.
Look at that nasty failed breakdown at the end of the year. Classic whipsaw during the heart of whipsaw season (between Christmas & New Years). Energy is now hitting new 52-week highs relative to Financials. We see this happen every single year. This year it was here.