MARKETS COLLAPSE IN FULL CLOWN SESSION *

Where to begin?

First we started with the UK Minister in Russia wearing a fucking mask and elbowing the Russian Minister, as a form of diplomacy to escape the horrors of war. He told her to fuck off and left her standing at the podium by herself in front of press.

LAVROV SAYS BRITISH DIPLOMAT UNPREPARED LIKE “A MUTE TALKING TO A DEAF PERSON”pic.twitter.com/RvzG57OmP3

— The_Real_Fly (@The_Real_Fly) February 10, 2022

Well done Britain pic.twitter.com/RdOf9iYwIW

— The_Real_Fly (@The_Real_Fly) February 10, 2022

BUDDY. He left her at the podium pic.twitter.com/mMuMgsqpBB

— The_Real_Fly (@The_Real_Fly) February 10, 2022

Then we V shaped up in the morning amidst all of the pomp you could ask for, post catastrophic CPI numbers.

Price increases over last year (CPI report)
Used Cars: +40.5%
Gasoline: +40.0%
Gas Utilities: +23.9%
Meats/Fish/Eggs: +12.2%
New Cars: +12.2%
Electricity: +10.7%
Overall CPI: +7.5%
Food at home: +7.4%
Food away from home: +6.4%
Transportation: +5.6%
Apparel: +5.3%
Shelter: +4.4%

— Charlie Bilello (@charliebilello) February 10, 2022

It was going ok and I was +5% until Biden declared he would “act like the devil” himself to “get gas prices” down for trannies and POCs.

BIDEN SAYS HE’S GONNA “WORK LIKE THE DEVIL”
pic.twitter.com/uoa2DsdP6B

— The_Real_Fly (@The_Real_Fly) February 10, 2022

Fed’s Bullard releases an outrageous new item for markets mid-afternoon, declaring he would be in favor for a 100bps increase in rates.

FED'S BULLARD FAVORS 100 BPS INTEREST-RATE INCREASES BY JULY 1

COLLAPSE

— The_Real_Fly (@The_Real_Fly) February 10, 2022

And then it got worse.

Buy now pay never stock Affirm accidentally tweeted out an earnings miss, causing the stock to plummet by 40% from the session highs. It halted, collapsed again, halted, and everyone who was playing got raped.

So apparently the fucking morons at $AFRM accidentally tweeted their earnings intra day and caused the stock to careen lower and crash.

Here is the deleted tweet. pic.twitter.com/v3wmKua1f7

— The_Real_Fly (@The_Real_Fly) February 10, 2022

And then ASTR’s satellite blew up in space causing their stock to drop 30%.

$ASTR GETS SPACE-RAPED; STOCK COLLAPSES 30% pic.twitter.com/cFDPEjLtvN

— The_Real_Fly (@The_Real_Fly) February 10, 2022

While all of this was happening, the NASDAQ shed 300, but worse was the action in the bond markets. Treasuries, high yield, and junk collapsed in unison.

As for me, I managed fine — quickly positioning into UVXY and SQQQ positions to hedge my longs and closed the session +3%, off 2% from session highs. I did not sell my oils because of my belief there is a profound Russian put in the market now.

After the close, looks like good earnings out of NET, Z, and HUBS, so perhaps we can bounce. Truth is, we haven’t gone up on a Thursday in 7 weeks straight and the market has been incredibly difficult now with the specter of Fed hikes. At the end of the session there was even chatter the Fed might come out TOMORROW to do an emergency rate hike. If so, we might see the market truly collapse under those conditions.

Imagine the NASDAQ going up on a Thursday
data via @stocklabsapp pic.twitter.com/ochxp0gh9n

— The_Real_Fly (@The_Real_Fly) February 10, 2022

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