BULLATARD were out and about this morning sopping up discounts — jimmy-rigging stocks higher in the hopes of making it. Meanwhile, shares of the inherently anti-white TWLO were down 35%. Shares of DKNG -22%. Shares of TEAM -33%. The entire SAAS space RACKED WITH LOSS, as Elon Musk embeds himself at the Twitter HQ culling half the work force.
We are all so concerned about inflation, yet with copper up by a staggering 7% and WTI +5%, we are also so complacent as to accept the notion that this was acceptable and the Fed hikes were of no consequences because today’s jobs numbers were good and the borrowing costs for new home buyers and those servicing mountains of debt could handle it.
Then all of a sudden, the +200 NASDAQ rally disjointed and collapsed. Now we sit atop a fresh layer of dead bodies, traders who barreled in sideways hoping to slip out the other side unscathed.
These tunnels are lined with razors and should be navigated by professionals only.
Having said that, I’m +95bps for the session — trading both the long and short side — looking for an end of day collapse.
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Commodities prices are inflation lovers and commodity prices can stop all kinds of things but I don’t think they create inflation, if they do so it is self correcting soon enough. This here inflation is monetary excesses and debt excesses. It won’t solve it to go after the wrong root cause. Supply chains same story.
“Recession… recession…recession….” Blah blah fuckin’ blah.
WHAT fuckin’ recession?? What CNBC morons!