Short stocks, long oil is the “FUCK BIDEN TRADE”, which makes me feeeeeel good because he’s an idiot and a terrible leader and I have anger issues. On the other hand, the fucking FOMC is about to light up markets at 2:30pm. Anything can and will happen. They could signal pivot and we might gap higher by 1,000 or they might suggest even greater tightening and the doom you see before you will deepen and blacken until your portfolios are left in dust.
I am unsure as to the direction of markets today, and have been unsure for sometime now. Nonetheless, I continue to navigate and search the markets meadows for treasure and am convinced, at some point, I will cast upon a salient I deem suitable and propel higher.
As a dark winter of death and destruction awaits around the corner, we should be mindful that the United Steaks has just two things left of note.
1. Dollar reserve
2. Wealth via stock exchange.
The latter is being dismembered as we speak. But we still do have a strong and robust dollar, the envy of the world. This only can be threatened if US power is called into question, which is why they are all in for Ukraine. Should we lose the war against Russia, I suspect the dollar will collapse, at which point gold and even Bitcoins might become attractive again. Bear in mind, SHITCOIN has weakened as the dollar gained and stocks fell. The morons who ebbed into BTC when DOGE was all the rage have been dismantled and burned, no longer on the chess board.
Bottom line: No one can honestly predict what will happen at 2:30pm. My gut is for a spike, but I would not be surprised if the Fed said things to purposely wreck stocks in order to keep inflation at bay.
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Absolutely no way they pivot. I think they ran the market up ahead of today’s announcement because there’s an election to be stolen. Need to keep the candy bowl full until November 8th but a pivot is the final maneuver and we’re not there yet.
The “Fuck” trade also includes higher rates from the Fed. Hoo Ha! Hoping the Fed has a green light to do whatever needed in spite of the current boss’ possible desires. This work is more important than the party (reserve currency probably shouldn’t be in rapid inflation).