Everything Works in Cycles

I recently read an article which noted that Automats are on the verge of a comeback in New York City. It would not surprise me to see laundromats pop up in more volume, too, as washer/dryer units in homes and apartments inevitably break from old age, wear and tear, and during times of inflation coupled with potentially slowing economic growth we see a shift towards using commercial laundromats in lieu of the expensive durable goods. 

All of that is part and parcel of long-term economic cycles--Back in the 1970s when we last had a secular inflationary regime automats and laundromats were rather ubiquitous as a way to "scrape by" one load of laundry and one snack/meal at a time. And I expect that to come back in vogue, once again, as this long-term shift continues to unfold. 

On that note, we had the ECB over in Europe cut rates this morning, which follows up the recent cut by the Bank of Canada. 

In light of these cuts, silver, gold, and precious miners are notable outperforms in an otherwise sleepwalking tape today.

Once again, this conjures up memories of the 1970s where gold and many commodities were the very best performers as central banks took their foot off the inflation fighting gas way too early. As you can see on the silver ETF daily chart, today's candle is promising so far as a hint at a new leg higher. 

Regarding NVDA, I will remind you that Red Auerbach's Boston Celtics once on 11 NBA championships in 13 years. Later in life, after the Len Bias and Reggie Lewis untimely deaths, Auerbach lamented that everything runs in cycles in life, and he almost expected his string of luck and good fortune to run out.