The Dow is up more than 600 ahead of tomorrow’s scheduled meeting of terms between Ukraine and Russia. With oil and all commodities through the roof, traders are being incredibly optimistic here — in what could be turning into a nightmarish hellhole of slowing growth, high inflation, and war.
Nothing goes up or down forever, so we trade.
Strength is concentrated in the largest caps, with stocks with market caps more than $100b up 1.9%, while the pennies only +0.9%. Overall, breadth is fantastic and I’d be hard pressed to want to place any shorts earlier than 3:50pm.
On the news front, lots of odd things taking place.
Here goes.
Washington leaves Moscow no choice but to limit America’s diplomatic mission in Russia — Russian FM
POWELL: CRYPTOCURRENCIES ARE A MEANS TO EVADE LAW ENFORCEMENT, AND THAT’S NOT SOMETHING WE SHOULD TOLERATE $BTC
FRANCE’S FINANCE MIN. LE MAIRE: SANCTIONS AGAINST RUSSIA WILL COVER CRYPTO CURRENCIES. $BTC
EU EXEC. VP DOMBROVSKIS: SANCTIONS WILL HAVE A GREATER IMPACT ON THE ENERGY INDUSTRY.
GERMANY’S FINANCE MINISTER LINDNER: WE SHOULD ALSO TAKE STEPS TO PREVENT PUBLICLY TRADED INDIVIDUALS AND INSTITUTIONS FROM SHIFTING TO UNREGULATED DIGITAL ASSETS.
IOC PRESIDENT BACH: THERE HAS BEEN NO PLEDGE TO ELIMINATE RUSSIAN SANCTIONS IN THE EVENT OF A TRUCE OR A PEACE DEAL WITH UKRAINE.
THE US PLANS MEASURES TO HARM BELARUSIAN AND RUSSIAN DEFENCE SECTORS.
Russian Ministry of Defense publishes official numbers: 498 fallen soldiers, 1597 wounded
US DEMOCRAT OFFERS BILL THAT COULD LEAD TO TARIFFS ON RUSSIA GOODS.
GEORGIA PLANS TO SUBMIT BID TO JOIN EU ON MARCH 3 -TASS
RUSSIA’S LAVROV: OUR SOVEREIGNTY OVER CRIMEA IS NOT AN ISSUE FOR DISCUSSION AS IT IS PART OF RUSSIA
RUSSIAN FOREIGN MINISTER LAVROV SAYS THERE SHOULD BE A SET OF WEAPONS SPECIFIED THAT CAN NEVER BE DEPLOYED IN UKRAINE – IFAX
RUSSIAN FOREIGN MINISTER LAVROV SAYS MOSCOW’S AIM IS DEMILITARISATION OF UKRAINE BUT UKRAINIANS MUST DECIDE ON THEIR OWN LEADERS
UKRAINE’S PRESIDENT ZELENSKY: FOLLOWING MY CALL WITH PRES. OF EU COUNCIL MICHEL, I ANTICIPATE FAVOURABLE NEWS ON UKRAINE’S MEMBERSHIP BID.
BIDEN ON BANNING RUSSIAN OIL AND GAS: NOTHING IS OFF THE TABLE.
Into the close, likely a ramp. As for tomorrow, I would not bet on a peace agreement. Russia wants to replace the Ukranian govt and Zelensky wants power and will not give it up.
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It seems the only way there can be a ceasefire is if Ukraine’s military equip has been destroyed. Is that the case?
I don’t know, but doubt it.
reserve currency over time
https://twitter.com/i/status/1499063526316515329
the Russkies were not expecting such a reception, neither by the Ukraine nor by the free world. time to leverage sanctions up a notch or more.
in case there is any doubt about China hereabouts, a clip to enjoy:
https://www.youtube.com/watch?v=kxprOQuVamE
Let’s hope you’re right. IMO, they shouldn’t be underestimated.
Good evening iBankCoin. It is I, Mr Devil Dog. Enjoy this brief reprieve in market selling while you can, for assuredly this is merely a bounce of the dead cat variety. Within days, the news will once again turn to Global Armageddon, and your stocked-market purchases shall wither like a flower in the desert. Western capitalism now titters on the edge of oblivion, and financial markets are poised to fall into a vortex of selling the ferocity of which you have never before witnessed.
boring
Calling you an idiot would be an insult to all the stupid people.
Crazy Ivans. Re tomorrow’s talks: Russia’s Lavarov is reportedly saying that “Ukrainians must decide on their own leaders”.
No sir! That is a non-starter. Victoria Nuland makes those decisions.
What? Going up for the last 12 years seems like forever to me.
Mature retailer COST selling at just 45 times earnings reports tonight. WTF?
*tomorrow night