I cannot tell you how many times I’ve seen this and I purposely left the previous headline intact as a way to document the fuckery of Fed days.
The Fed came out with hawkish statements and then during the testimony Powell more or less said inflation was transitory and everyone jerked off to the sounds of the NASDAQ screaming higher.
I had a mixed day.
That first account only executes buys of TQQQ based upon the Stocklabs oversold signals. It buys in 3 tranches, 33% per buy. I had been lucky enough to see 3 OS signals the past week or so and have a 100% allocation to TQQQ, now screaming higher by 11% for the session. There is a 5 day holding period for it.
The second is my trading and that did nothing because early on I left the turret and permitted some gains in Ag chems turn into heinous losses. I was up 90bps before 10am and after 12pm I was -50bps. When the Fed came out and markets collapsed, I had just gone long 2x (10% weight) LABU and saw my account sink to -2.2% at session lows. Although tempted to sell and chalk up the loss or even better short something to hedge, I refrained only because it was a Fed day and I knew chicanery ruled supreme.
The third account is my Quant and it is heavily long oils, which are out of favor now.
The biggest question for the market now is higher or lower and if higher will rotation out of commodities continue and spill into tech? The answer is inevitably NO.
Watch this.
PUTIN CALLS RUSSIAN HIGHER CASTE LIVING ABROAD “SCUM” pic.twitter.com/J0fCj3abbu
— The_Real_Fly (@The_Real_Fly) March 16, 2022
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Do not fuck with a Russian Bear. The old school, the blood memories, encourage conflict. We are destined to enter the times of the Chinese curse.
It’s Jerry fucking “Pinnochio” Powell, and the magical market show.
the West got a discrete nod from China today. they’re cutting Putin free very quietly, very.