Dow: -129.64…
Nasdaq: +2.82… S&P: -6.52…
“I wish I could tell you more, but we have no idea WTF we are doing”- Chairman Powell
If you want to have a laugh go back and listen to everything Powell and his ilk said six months ago, then try and analyze what he is saying these days. Inflation is transitory etc…..It’s so bad and so wrong that I can’t find words.
Ukraine chatter slowed down a bit today but it’s still here. Maybe the Biden admin is working with Russian forces to show valid proof of vaccination before invading.
Are you tired of being in the stock market yet? Many are, it’s becoming impossible. It’s not like this is the first time we’ve seen this type of action. I’ve seen this roadshow a million times, so have many of you, but it always feels like the first time because it just sucks.
I was up bigly today and closed flat. I can’t tell you how many times in the last 30-60 days where I’ve had big gains and didn’t take them. This is what happens when we get conditioned to be too bullish.
As I told a member yesterday, my time frames will be much shorter this year. It feels different, more headwinds and I don’t trust management…..of the USA.
Last night, MSFT was down a million after earnings then went green.
TSLA reported an hour ago. It went down about $30, now it’s up $25 (was +$60). Algos gone mad.
Some big bottom to top moves today, then a rollover to near the lows in some names, but some held green. The trading was violent and has been all week.
The market can suck on Fed day and the moves can be wild.
2022 is going to be unpredictable, way different in my opinion than what we have all become accustomed to.
It looks like the Fed wants to raise rates in March. That is in the process of getting discounted. An oversold rally will come, but as I said last night, I’m not sure how long it will last.
Broken charts are shorts on rallies.
No one cares about Kathy Wood and ARKK funds right now, or tech, or growth.
Gold and silver are in the process of another head fake. The Dollar bounce doesn’t help.
See you in the morning.