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.If you enjoy the content at iBankCoin, please follow us on Twitter