Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarketPrep.com website, joins us to break down the continued volatility in the markets after the quadruple witching options expiration. We discuss the interest rate markets reaction now that Fed has initiated their first rate hike, and with the flattening of the yield, and being so very far behind the high pricing inflation readings, we also question whether this late start is a policy error, and may lead to recession.
We review the commodity sector’s corrective move across the board from last week into this week, and that now the market is ignoring the geopolitical tension in Ukraine that it was so focused on for a few weeks. The big tech sector is taking back off to the upside, as is the smaller growth stocks in tech over the last few trading sessions, which Joel saw as a good tradable rally, but thinks its premature to suggest it will simply break to new all time high in the near future.
Another stock investors are piling into as a type of safe haven is Warren Buffet’s Berkshire Hathaway, due to his cash holding, diversified portfolio, and consumer staples held with. We wrap up with some thoughts on the moves in the cryptocurrencies, and how Joel is trading the general stock markets.