If it weren’t for Andy Jassy jerking his way through the DOD and making them cancel MSFT’s cloud contract in order to give Amazon it’s fair share and Apple trading up, we’d be down bushels in the NASDAQ today. We’re down 35, but it feels like 300, with 80% of stocks lower.
The commodity trade has been up-ended and obliterated, with earth shattering decline in Corn (-7%), Soybeans and Wheat. The 10yr bond is plunging in yield and everything you thought you knew about inflation is upside down. Apparently, it doesn’t exist at all. Once the stimulus checks have stopped going out and gibs reduced to a bare minimum, dare I say a reactionary reversion to the mean is in order — tossing inflation hawks into the fires to roast for eternity.
I’ve missed innumerable trades today and have watched my gains dissipate to nothing. I was +130bps and then slipped to -55bps and now I am holding on to dear life +15bps. I have sat here in amazement at my inability to pull the trigger on stocks I felt and knew would go up — and have done nothing to help my cause since the opening hour.
For the balance of the day, somehow, I will attempt at preserving my gains and perhaps building on them via a nice fat juicy trading profit.
DEVELOPING…
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Let’s see. In 15 years my house doubled in value, to 475k in Porter Texas. My 1966 Chevelle has doubled in value. The instruments and 5sp transmission I installed cost 35 % more in 10 years. 150 bucks a week in groceries ain’t what it used to be. The incredible shrinking cereal box, check. Etc etc. Ya I don’t see no inflation.
Ah, the benefits of owning the WaPo.
i am sure u knew they were going up. dont worry ull know u shoulda been up a 1000% this year