Good Wednesday morning. Tyler covered this topic in some detail on his podcast yesterday and it’s a topic that smart money investors tend to understand well. Following yesterdays CPI data, which the financial media called “hot”, US equity markets quickly flipped from losses to outsized gains, featuring another strong smart money hour with the semis jumping 3.1% and featuring all-time highs in the S&P 500.

As we often cover here, it’s not the news that matters…it’s the markets reaction to that news that matters most. When the market (or an individual stock) rises on bad news, it’s a bears worst nightmare (and it works in both directions). In addition to markets soaring on bad news, there’s another big tell that’s underway as our overbought markets continue to rise…also an incredibly bullish buy signal.

We made the decision some time ago not to try and get too cute with timing the market and selling our winners too soon. Dips should continue to be bought…and they’re not lasting...