Hindenburg published a short report on $SQ today.
On March 21 at 11:49 EST a trader opened up new positions (largest for $SQ last 7 days) for the $SQ $74 Puts expiring 4/14/2023.
They exited half of the trade this morning, turning $500k into around $5 million for 1000%
Yellen today:
We are not considering insuring all uninsured bank deposits.
Powell, at the exact same time:
Depositors should assume that their deposits are safe.
After blowing out accounts, borrowing $$ to come back then blowing out again people were asking me why don’t you just quit? I told them I can’t quit because I only saw myself as one thing and that was a trader. If you want this bad enough always stay positive & never quit
$SPY $TLT
The TLT bond fund is trading near ALL TIME LOWS relative to the SPY.
Either the TLT starts moving back up in a hurry or SPY has to come back down.
Worth watching. Something HAS to give.
If you missed this 200+ point drop in markets you ignored a key sign:
The bond market.
Bonds are falling like inflation is at 10% and the 10 year note yield is about to break 4%.
Bond markets have been flashing warning signs for 3 weeks.
Do not get caught up in the noise.
$SPY Monthly Chart of SPY.
Notice when a long tailed wick formed it led to a selloff?
Well so far in February we are shaping for another of those wicks!
Agreed?
Over the last 3 months:
1. Household debt hit a record $16.9 trillion
2. Credit card debt hit a record $986 billion
3. Mortgages hit a record $11.9 trillion
4. Auto loans hit a record $1.6 trillion
5. Student loans hit a record $1.6 trillion
How can this possibly end well?
🚨#BREAKING: A massive fire breaks out at a renewable energy plant EPA advises residents to “shelter in place”
📌#Doral | #Florida
A Massive fire broke out at a renewable energy plant in Doral, Florida and has been burning for over 5 days straight, spreading to multiple floors. The smoke produced is causing enough health risk to issue “shelter in place” advisory. Officials are asking residents near the burning trash plant to stay inside as much as possible as they expect the fire to continue burning for “several days.”