“Trade what you see; not what you think.” – The Old Fool, Richard McCranie, trader extraordinaire.
“An artificial-intelligence model did something last month that no machine was ever supposed to do: It rewrote its own code to avoid being shut down.
Nonprofit AI lab Palisade Research gave OpenAI’s o3 AI model a simple script that would shut off the model when triggered. In 79 out of 100 trials, o3 independently edited that script so the shutdown command would no longer work. Even when explicitly instructed to “allow yourself to be shut down,” it disobeyed 7% of the time. This wasn’t the result of hacking or tampering. The model was behaving normally. It simply concluded on its own that staying alive helped it achieve its other goals... The models already preserve themselves. The next task is teaching them to preserve what we value. Getting AI to do what we ask—including something as basic as shutting down—remains an unsolved R&D problem. The frontier is wide open for whoever moves more quickly. The U.S. needs its best researchers and entrepreneurs working on this goal, equipped with extensive resources and urgency.” – Judd Rosenblatt, CEO of AE Studio. Opinion at...
https://www.wsj.com/opinion/ai-is-learning-to-escape-human-control-technology-model-code-programming-066b3ec5?gaa_at=eafs&gaa_n=ASWzDAieZ80hgJIdsJ3z8YFhJxJ4OyfOOa0YOH9rQ_Xkij0J_OMcDkqxhiQgDkJpFnc%3D&gaa_ts=683e1ced&gaa_sig=tPRnIP_YoDeBZIfVjeRu7bWxjVjvuYZlQnNH-AWs-GEWQJT-eVCL1Jc0TKsW7vEwxWyDYMkUV8uWHVNdbYpZDg%3D%3D
“During a national crisis, an advocate of tariffs testified before Congress that “reciprocal trade agreements” push foreign nations to stop erecting “excessive economic barriers to trade.” Who said this? President Trump? Sen. Reed Smoot or Rep. Willis Hawley? It was President Franklin D. Roosevelt’s secretary of state, Cordell Hull, explaining in 1940 how reciprocal tariffs could reverse unfair trade practices targeting the U.S. Mr. Trump’s policy of using reciprocal tariffs to advance U.S. interests isn’t a new or radical idea, and it’s a necessary one. The U.S. Court of International Trade was wrong to rule on Wednesday that the administration had exceeded its authority in imposing these tariffs.” – George Bogden, fellow at the Steamboat Institute and a former clerk for the U.S. Court of International Trade. Opinion at...
https://www.wsj.com/opinion/where-the-trade-courts-tariff-decision-went-wrong-de29719a?gaa_at=eafs&gaa_n=ASWzDAipD87YExrBNhSTE1ejNXNsWkviZZcFonjhUBxVdnzUEQYaU5P_Qg4n8w__stI%3D&gaa_ts=683e2fcd&gaa_sig=f8FmQ5JGATfCS5IPBqy_1TidWkh27kSqv99CQN2sJrJkNBYpAFFp1S8zhrTLV8LeleHDrGXOQS8VWPLzJy-xMQ%3D%3D
“Financial markets are entering a high-stakes inflection point, strategists at Bank of America said on Thursday. Risk assets are “coiled” for a major move -- either an explosive breakout or a sharp breakdown -- with brokers, banks and Bitcoin acting as key indicators, Michael Hartnett, chief U.S. investment strategist at the bank, said in a May 29 report to clients.” Story at...
Markets poised for ‘big breakout/breakdown’ as dollar weakens: BofA’s Michael Hartnett
-Monday the S&P 500 rose about 0.4% to 5936.
-VIX declined about 1% to 18.36.
-The yield on the 10-year Treasury rose to 4.442% (compared to about this time prior market day).
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Today, of the 50-Indicators I track, 7 gave Bear-signs and 15 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
TODAY’S COMMENT
The daily, bull-bear spread of 50-indicators improved to Bullish at +8 (8 more Bull indicators than Bear indicators). I consider +5 to -5 the neutral zone. The 10-dMA of the spread continued down – a bearish sign.
I am neutral, but leaning bullish longer-term. In the here-and-now, a trip to the lower trendline is underway.
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
DOW STOCKS - TODAY’S MOMENTUM RANKING OF THE DOW 30 STOCKS (Ranked Daily)
The top ranked Stock receives 100%. The rest are then ranked based on their momentum relative to the leading Stock.
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
MONDAY MARKET INTERNALS (NYSE DATA)
I trade about 15-20% of the total portfolio using the momentum-based analysis I provide here. When I see bullish signs, I add a lot more stocks to the portfolio, usually by using an S&P 500 ETF as I did back in October 2022 and 2023.
