Congratualtions America! After today’s Fed meeting you have much higher borrowing costs and this means inflation will soon be defeated. Evil Vlad Putin must be seething at the idea that middled class folks in Michigan will now see their credit card interest rates go from 39.99% APR to 44.99%.
Tomorrow morning we get GDP numbers, which might be rigged, maybe not. Does it matter?
After the bell, META, QCOM, TDOC, BBY and NOW all missed and all are sharply lower. META was down 6% but now merely off by 1.2%, so maybe it’s not all that bad.
I covered my shorts earlier in the day and bulked up long, reversing losses and closed +40bps. At the close I nonchalantly tossed 25% of my book in SOXS — because why the fuck not and who will stop me?
At this point, I am glib and completely black pilled. I should be elated over sharply higher priced and ROBOT BIDEN fully recovered from a 2 or 3 day stint with the deadly COVID virus, which he is thankful for having since he’s fully vaccinated and boosted.
It might behoove some of you to learn I have never vaccinated and will never boost and have yet to accomplish the arduous task of contacting the COVID-19 world busting virus. I simply do not give a fuck.
I walk upright into the morning fires, 10% weighted BTU into earnings, an insane SOXS position and various small capped crypto miners.
If you enjoy the content at iBankCoin, please follow us on Twitter
From ZH earlier today:
“Fed has raised rates 3 times this year. S&P 500 was up 2.24%, 2.99%, 1.46% on those days. Eventually, followed by lower lows in each case. Current case TBD [actually 1.4%].”
Correction: S&P up 2.6% today.
November