What a day. All dicks aside, I feel sorry for anyone trying to figure out near term direction of this tape, myself included. I have so much god damned experience and an innate sixth sense that helps me navigate these tapes, I can only image how ordinary folk are feeling now.
I can tell you this with absolute certainty.
This isn’t an ordinary sell off and the market is trying to communicate something.
What is it trying to tell us? No way of knowing now, until after the fact.
I will say, we’re oversold and people really want stocks to recover. The President wants stocks to recover. The Fed doesn’t give a shit.
In the big scheme of things, this is a significant move in standard deviation in the broader indices, perhaps the most since 2011.
With regards to my inverse ETFs, I’ll hold them another day or two. Best case scenario, we fucking crash thru the floor boards on Monday and I’m able to walk away like a true boss with immense profits in tow. But life doesn’t always work out so smoothly.
In case you missed it, we’re launching a new white glove service at iBC, one that includes me telling you what’s going on in markets, via live calls, one on one. Frankly, boot camps with large groups isn’t good enough — because it doesn’t specify specific needs. Read about it here, and please take the survey.
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Wulp I’m off to join the migrant caravan. My plan is to sustain myself selling handicrafts until this market recovers.
May be one of the best comments ever at IBC! Make sure you get a deep tan to blend in. #justsayin
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They got rave reviews on Trip Advisor if you don’t believe me.
Right the fuck on. My experience informed me to let someone else figure out near term direction of this tape. So stay in cash unless one knows what the fuck (s)he is doing. Volatility is a wonderful thing for scalpers, myself included.
Re: monetary policy, Congress gave the Fed the dual mandate to maintain price stability (albeit the 2% inflation target is at times moronic) and maximize employment. At this stage of the economic cycle, they are doing their job to fulfill said dual mandate by raising rates. They shouldn’t give a shit about crybabies losing money in the stock market, unless Congress explicitly legislates otherwise.
Good point. Dot plots rule
Yea except the Fed is notorious for being behind the curve and backward looking.
discounting to a new range of expectations probably. It will be most helpful if the Administration could see ‘get back to it’ on trade as priority. At full employment what more can be done ? other than settle back into a steady state.