Today we’re faced with the eternal question.
Is the glass half-empty or half-full?
The inflation numbers came out today and they’re good.
Wait, they’re bad.
Wait, which is it?
Exactly.
Yes, inflation came in hotter than expected. That could mean that the Fed isn’t done raising rates. If that’s true, we’re heading toward another big leg down.
But it wasn’t that bad.
And because it wasn’t that bad, we could surmise that the Fed is doing a great job and soon they’ll stop their rate-raising program.
It’s quite a conundrum. And the market can’t make up its mind.
What can we do?
One, we’ll continue to watch the positions we liked before today.
Two, we can also add some sneaky picks to our watchlists.
When the market is indecisive or overly emotional, many times there are stocks trading in the background getting ready for a big move.
One of those types of stock is Palantir Technologies Inc (PLTR).
It’s a high-intensity, government-secrets, world-peace kind of stock. We know it does important things but we’re not sure what they are.
At first, PLTR soared.
After its IPO, it shot to the moon.
Then it cratered and everyone lost interest.
But quietly, it’s been going on quite a run. And this rising, falling, and forgetting process is typical for high-profile IPOs.
If it secretly breaks above $9.25 while the market waffles, we could see a massive move up.
Happy trading,
Scott
