The Frustration of Higher Interest Rates and Slowing Growth

Manufacturing in Philadelphia Region Shrank in June

http://www.bloomberg.com/apps/news?pid=20601087&sid=ay5MtkdxQ3Wo&refer=home

"Philadelphia Fed Jun Price Paid 69.3 Vs May 53.8"

The FOMC must raise interest rates soon to stave off run away inflation, as witnessed in the Prices Paid Component this morning at 69.3. The Prices Paid Component has NEVER has it been that high. Slower growth is now expected and must be accepted, but in POTC's opinion rising prices can no longer be tolerated.

Despite the market being up as of this 12.25 ET writing, we remain bearish on stocks until we get the FOMC decision this coming Tuesday, June 25th. POTC sees a lot of uncertainty before that 2:15 PM ET announcement, and that usually translates to lower stock prices. Tomorrow is what is widely known as 'freaky Friday', so do not let the option expiration day fool you into dressing as a bull.

The Psychology of the Call team wishes you a good day.