Mark my words, there will be some of you reading this who will be physically upset that I said the word ‘plunge’. You’ll want to rebut with phrases like “plunge, MUH -0.6%”; but go fuck yourself. This is broken elevator trading action and if you don’t have hedges in place, I have no pity for you.
It’s as clear as the day is long, the market HATES Chairman Powell. Moreover, they love steel tariffs. This sordid and exotic blend of good and evil has resulted in a harmonious utopia in my tactical account — with big dicked gains in CLF, FTK, ECR and modest returns in SQQQ.
— The_Real_Fly (@The_Real_Fly) March 1, 2018
I am on standby waiting for an Exodus OS signal with 20% cash to be deployed in SPY. Unlike previous signals, I will not share them here with the unwashed, unclean masses — out of resect for paying members. However, I will warn you, once again of very dark times ahead.
BEWARE OF THE IDES OF MARCH!!!
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How can markets HATE Chairman Powell when Chairman Powell is the markets?
This shit isn’t Powell, He did his best to try and placade the markerts that he wouldn’t raise rates.
The setup was there last week in the charts. I’m generally NOT a short term trader, but even I saw the tea leaves.
http://ibankcoin.com/flyblog/2018/02/22/rare-flag-alert-exodus-nearly-chimped-fine-now/#comment-545671
UVXY FTW
I closed my UVXY position. Qs hit the 165 target I pointed out yesterday. We may see 159 tomorrow, but my crystal ball doesn’t take me that far.
YTD, the FAANNGs and Qs are still looking good. The true believers are holding on to the high PE stocks, while SPX and DOW are spanked.
Can the Qs make another ATH without the SPY following? I don’t think so. Either the SPY goes up or the wings come off the FAANNGs.
If SPY doesn’t finish the quarter green, I’m going full bear for the year. With that stooge in charge, they’ll be plenty of catalyst to trigger the next leg down.
FWIW I’m starting a long /YM position sub-24400 in the next couple of hours for a bounce.
This market badly needs more Trump tariffs and Trump crashes. Down days like this just aren’t exciting enough.
“Down days like this just aren’t exciting enough.”
No worries. This is just an appetizer. Be patient… It’s coming…
The market hands every new chair a market drop.
Good day to short bonds – TMV
Margined up w DDD & SNAP