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
19,110 Blog Posts

Futures Sharply Higher; $175 $QQQ Here We Come

Interesting drop in STMP this morning — off by 50% after reports of willingly ceasing their relationship with USPS. Sort of odd how stupid a company could be — almost as bad as KHC this morning — driving lower with a vengeance on news that no one likes or wants ketchup anymore.

We’re looking for $175 on the Qs short term and we will not sell until we get there.

I suppose we can begin thinking that Trump might ink a deal with China, but it’ll be meaningless. I don’t believe President Xi will provide much middle ground until the 2020 elections.

In the meantime, we’ll have to deal with the Fed being pussified by a market pull-back, both conciliatory and subservient to the market’s demands. By ceasing their tapering program, essentially, the Fed is implementing another round of QE.

At around $4 trillion, the Fed’s balance sheet is fat and greasy, but I suppose they see something around the bend and they want to get ahead of the curve.

Perhaps in another 10 years the Fed will get the balance sheet down to pre financial crisis levels. To think, the Fed did all of this — just so they could save a few banksters, yet none of said banksters evert served a day in prison.

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4 comments

  1. edge

    Yeah. Then they used the bailout money to buy up the assets of those who couldn’t afford to keep them- those who weren’t bailed out. We officially entered oligarchy.
    I don’t understand those who insist that any efforts to roll back that oligarchy are “socialism”.
    What we have now ain’t capitalism, and that’s what is driving people to a socialist philosophy…we need to prove that a capitalist system can work for everyone. Fast.
    The under 40 crowd has embraced socialism. We don’t have forever to get this done and we might be too late.

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  2. flea

    Expect this little indicator to support the Fed asset-freeze at $4T:

    CB Balance Sheet as percentage of GDP:

    UK 25%
    ECB 40%
    Japan 110%

    US 20%

    Hell, QE4, 5 and 6 anyone?

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  3. chumpdaddy

    qqq reached an intraday high of 171.33 on 2/6. It’s now 2/22 and 172.83 on an upday. Yawning…it’ll get there one day.

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