In today's episode, Kip breaks down today's market resilience despite this morning's hotter-than-expected PPI inflation data. Investors leaned into the tried and true "buy the dip" mentality, and while we didn't finish positive today, we did finish near the highs of the day. Kip also dives into today's breaking news headlines from the tech sector. Tune into today's podcast ot learn more.

Don’t look back because the market is closed. Good Thursday afternoon everyone. Kip Herriage here with the daily VRA investing podcast. Hope you had a good day today. Bit of a topsy turbulent day in the markets today. We opened pretty weak this morning on the heels of some strong PPI data. Producer prices rose 0.9 of a percent while the estimates were just for 2/10 of a percent. Of course, yesterday’s CPI data was just the opposite.

It came in tame. You know I think, I think honest people are asking the same question. Can we even trust this BLS data? The bureau labor statistic. Can we even trust the data? I’ll tell you what, I think the market’s the best discounting mechanism there is. I trust the markets more than I do government economic data. And what did the market do? Came charging back again. Buy the dip continues to be the smart money strategy here. This, this tells you the strength of this bull market.

And again look, look back at this market from the April 7th bear market lows. What’s it done? It’s gone straight up. This is 2020 part two. And, and the important thing to remember about 2020 was once the, once we, we clawed back the pandemic losses and got back to new all time highs. The market bull market didn’t stop there. It was up SPF 100 went to the 40% in the next 15 months. Nasdaq went up to 71% in the next 14, 15 months. So I think that’s what we have here.

[00:01:16]:
We have a market that wants to go higher. It is a seasonally weak period. A lot of people are taking vacations. We’re about to do that here. A lot of people spending time maybe raising a little cash not to worry about their portfolios quite so much. And I think that’s, that’s more than anything is what we’re seeing kind of a light volume, kind of a little bit of a higher volatility. Remember yesterday was, was unbelievably low volatility which came in today, today was up 2.3%. The Vix was.

But yesterday the VIX closed at a, an all time, not all time low. A low for 2025 at 14.49 while at the same time the full call ratio opened at a low of 0.63 and closed at a high of 0.7. These are low readings telling you that more people are buying calls than puts. That typically means you’re going to have a shakeout. We had that at the open today. But again on the heels of I Think as Tyler said in our pre podcast meeting, the government and Trump agreeing to, to, to fund, to put some money into intel and take a position in intel to strengthen this really legendary American company to all the people. And this is going to be cnbc, this is going to be cnn, it’s going to be MSNBC and Bloomberg who’s over. I’ve already heard say this twice and that’s really the only financial network that I watch these days besides the Fox Business because that’s the network that I’m on more often than not.

[00:02:39]:
But they say this, oh, this isn’t real capitalism. This is Donald Trump style capitalism. This is more like a dictatorship. This is more like fascist capitalism. Fascism. Have they forgotten that during Obama’s presidency he took over the auto industry completely took it over and then made these horrible investments in these green energy companies. We never saw that money again. I don’t want to hear it.

Take your, take your whining and moaning elsewhere because I don’t want to hear it. I don’t really understand this investment Intel. Maybe it was a good idea, maybe it was a bad idea. I don’t know. I just know that just, just if you can’t see that the other side’s done it far, far worse than, than Trump and Republicans have done it, then you’re just, just not being honest. And I don’t need to hear, I don’t need to hear nonsense frankly. What else today again good come back today. Semis led the way on the heels of that intel news but we saw you know either flatter gains across the board here.

[00:03:37]:
NASDAQ today finishing just slightly lower down 1/10 of 1. Excuse me, down 2 points. How about that? That just they almost as a register we call it flat S500 today also flat of 1. Just up 1 point. The exact opposite of Nasdaq. Dow Jones today down 11 points. I mean really again we claw back all those early losses. The only big loser today was Russ 2000 small caps down 1.2% but they also had a pretty good run here over the last, you know, several days.

So give a little bit back today. I think that the hot PPI data with the, with rates rising a little bit as Tyler said 10 year back up to 4.29%. Probably cool the jets of small caps a little bit but we think those lows are in and we’re looking for one of those famous runs that the, that the small caps tend to make every couple of years. We think we’re ready for one here. Let’s take A look under the hood today. Again, not, not, not great internals. They’re really kind of just the opposite of what we saw yesterday. NYSE three to one negative for advanced decline.

[00:04:40]:
Same thing with NASDAQ, three to one negative. We had 218 stocks hit a new 52 week high. Just 110 hit a new 52 week low. And volume today came in, that just changed. Let me run a quick refresh here. Oh, one second. If I could do math, I could do this a little easier. Down volume for NYSE was 69% down.

Actually we had more stocks advancing than declining on NASDAQ. We had to up volume in NASDAQ of 52%. Up volume today in NASDAQ. So again, very quiet day all around sector wise today. Not, not that great. Four sectors finished higher, seven finished lower. Nothing happened either way here, folks. Industrials were the loser, down 8/10 of a percent.

The winner financials up a half percent again. Really no great shakes in either direction. In our commodity watch today, gold gave up $26 announced at 38. Excuse me, 33,382. Silver today down 1.4% at $38.04 an ounce. Copper today, flat on the day, $4.49 a pound. Crude oil up $1.27 today, but still right in that range. It just can’t seem to get away from 63.64 right now, $63 90, 92 cents a barrel.

[00:06:06]:
And finally they. Bitcoin. What happened to bitcoin? You know, doing the podcast yesterday and when I got the podcast, we were $200 away from an all time high. And so I go up and run some errands. I’m at the grocery store and I check my phone and Bitcoin’s 124,000. Whoa. People like, what is this idiot doing? And you know, I mean, I have to celebrate all time highs in bitcoin. Who doesn’t, right? And then all of a sudden, overnight, all the juice was taken out of it.

Last trade now just below 118,000. This reminds me kind of the old days of bitcoin with extreme volatility and people were just pulling their hair out. You know, the weekends were selling, selling, buying, buying high and selling low. And we haven’t seen that, have we? Because it’s been much more stable. And I think that, I think that’s going to continue to be even more and more the case. I really don’t have a good idea of why bitcoin’s had this, what, $6,000 plus loss in the last 2022, 24 hours. But. But it has.

And so I think, again, I will just take repeat what we’ve been telling for some time. Anything in this range is a buying opportunity because in three, four years, you know, we’re going to be looking at 400, 000 Bitcoin. And probably by 2032, we’ll be looking at a million bitcoin. So, you know, we, we take these as small down days with a very, very small grain of salt. And whenever we can, which is monthly for us, we add to our positions. All right, folks, that’s it for today. Hope you had a great day and even better night. We’ll see you back here again tomorrow after the close.