iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,556 Blog Posts

MARKETS SPIKE ON POWELL COMMENTS

Classic spike post Fed speech, which we already knew was coming but so many of us opted to not act. The NASDAQ has spike more than 150 in the past 10 mins after Powell said the FOMC might slow the pace of hikes starting the December meeting.

The net result, as you could imagine, perversion on a scale that would make any ardent bear sick. We are seeing Chinese stocks, EV, FANG, and even the oils rise. The fucking gold miners are rising too.

Now whether this rally sticks is another story. Often times we get these initial Fed spikes only to collapse later on after the sugar rush wanes.

I will not be chasing into this lift, as I am content with small gains or losses on the last day of November.

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One comment

  1. Orson

    Powell acknowledging attainment of price stability?

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    • 0 Deem this to be "Fake News"