Bloomberg was just reporting, according to their natural language algorithms, that according to the last public appearance Powell made — he was the most dovish ever. Super dove. The commentator said Powell would need to “walk it back” since inflation is still running at a 3.6% annual clip, way above the mandate.
This person doesn’t remember what the Fed is all about: a stock market rigging mechanism.
Powell will say dovish things for Xmas and the markets will continue higher because of it. This is my best guess, based upon actual progress in the fight against inflation.
I have not traded yet and just sat down to look around. I see I am +50bps based on my weekly holds, led by GOTU, and I’m not sure how I feeeeel about it. The speech is bound to cause volatility and that really irritates me — because often times the first move is wrong. I know myself, in spite of what I just said. I will feel the need to hedge and I will try my best to avoid it.
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Le Fly – perhaps you can comment on the latest in laser Fusion and Free Energy!
Go long. Between 2:03 and 4:00 pm … a rocket … Dow +650.