Good Monday morning. US and global markets are panic-selling lower on growth/recession fears, led by the reality that the Fed waited too long to cut rates and concerns that Iran will soon bomb Israel. Here’s a snapshot:

- Japan’s Nikkei -13.4%
- US markets lower by 3-5%
- Bitcoin -15%
- 10 yr yields plummeting to 3.7%
- Even gold is down 2%.

Liquidity events like this—panic selling—are what happen when investors lose faith in the system; namely the Federal Reserve, J Powell and globalized central banking. The Fed should have started cutting rates in Q1. Now they will likely be forced to institute an emergency rate cut. For the 100th time, J Powell will go down as the worst Fed chair in history.

Panic Selling - What To Expect, What to Do

First, steep sell-offs on Monday morning, following a weak Friday, have marked the best buying opportunities of my career. This morning we’ll be watching the put-call ratio, TRIN, internals and market leadership (semis/tech) for sign...