Couldn't agree more. We need to see a big drop on huge volume.There goes the macro's.......let's see how ugly this gets
I'd honestly just prefer a capitulation across the board at this point. Let's just get it over with
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Couldn't agree more. We need to see a big drop on huge volume.There goes the macro's.......let's see how ugly this gets
I'd honestly just prefer a capitulation across the board at this point. Let's just get it over with
I mean, we're almost there. How much is left to go at this point? 10%? 20%?
Big investors still know their primary source if gains will be tech, so these "rotations" can only go so far before everyone scrambles to get back in.I mean I want the Nasdaq to take a 5% dive, tech take a big dive, and so on big volume in just a single day. Even if that means Tesla is down 10% or more today. Just feels like that kind of day needs to happen so everything can just move on at this point and that would hopefully end this streak of Tesla underperforming the macros.
Fed Powell Notes:
- Congress has given them two goals: max employment and price stability
- Today: economy began to recover may'20 with good progress into beg fall; then progress slowed with winter covid; still a long way from goal;
- Good reason to see job creation pick up (10MM fewer people working vs before COVID)
- Inflation: RN running below 2%; to move up as economy reopens and surge in spending; have tools to anchor long run inflation at 2%
- Max employment: wants to see wages moving up, gains in employment are broad based across demographics (labor force participation metric) rather than relying on unemployment metric
- Does not think that max employment will be achieved this year, employment recovery hasn't happened yet
- Asset purchases will continue at current level until substantial actual progress towards goal - it would take some time to achieve
- Economy is a long ways away from raising interest rates
- If they do see what they believe a transitory increase in long term inflation: he expects the Fed to be patient
- As it relates to bond markets: would be concerned if they see disorderly market or liquidity tightening
- Fed policies are outcome based (ie. wait for actual conditions to occur before raising rates)
- Expects inflation to raise on re-opening but views this as transient (one time event)
- Intends to use tools to anchor long term inflation at 2%
- High inflation is very bad - hurts people with low/fixed incomes; Fed will not allow this to happen as with previous Fed administrations in the 60s/70s
- Missed last 3 mins (had to pee)
TL;DR: Asset purchases and low rates to be maintained until max employment has been achieved. Fed to use tools to peg long term inflation at 2%. Short term/transitory inflation is not a concern. Watching bond markets carefully will act if market is disorderly or liquidity is constrained - suggests they will observe, along with a broad range of markets, before acting. Fed will fight high inflation.
I guess he stayed on point and didn't say anything inflammatory in either direction. Bond yields increased during speech on precautionary measures?
And all of this is with a backdrop of unprecedented liquidity sloshing around. The 10yr is trying to battle back to 2%, but it doesn't stand a chance. If anything we'll be lower Dec 31st than today.
Holding puts since the SP was $820. Will buy shares @ $420
You may yet see your 10% if they trigger the stops at 2xSpartas...I mean I want the Nasdaq to take a 5% dive, tech take a big dive, and so on big volume in just a single day. Even if that means Tesla is down 10% or more today.
You may yet see your 10% if they trigger the stops at 2xSpartas...