They don't print money any more. They are just big spenders into a regime $MU has taught us has specific performance commitments for them to pay into...
Back when they printed cash to their books, they were a different story..
You can't look at them the same way now.
@KobeissiLetter Kinda wish it had stayed down there a little longer, tapered off, or something in the normal range.
But that reversal made even less sense.
@OddStats Don't ignore the 'Nopes'
Oct-Dec 2018 was a bloodbath on $QQQ, a very effective 23% drawdown in 58 days. Every trip over the 20ma was rewarded with a kick lower within 3 days.
It sure as sh@t felt like a Bear.
Hello! McFly!
Why is the US getting called for 1/2 Million barrels from a leading commodity trader??
And more SPR draw? Can't we just pay it in Venezuelan?
๐ซ
Excellent assessment of the FOMC and new Fed Chair Warsh posture.
Definitely agree that the 'Task Force' (soon to become a meme) is an accountability shield.
Also, given the focus on Price Stability over Employment, I wouldn't be surprised if tomorrow's Jobless Claims are messy
My take on the first Fed Chair Warsh presser:
-He seems just as ambiguous as Powell, if anything slightly more so.
- He emphasized more of a focus on inflation and price stability. This in my opinion is the most hawkish element, he hardly mentioned the maximum employment mandate, which means that he is with the committee in signaling a rate hike will be coming in the near future if inflation doesn't come back down on it's own soon.
-Though he is pledging to be open to the Fed using more new data sources to inform monetary policy decisions, he kept using the phrase "make hard choices." Again this seems like a hawkish signal.
-While he declines to issue direct forward guidance unlike Powell, the statement does drop breadcrumbs and he does in a way do so with his tone and intent.
-He seems to be hinting that he is okay with the market exhibiting growing pains in response to the new direction of the Fed under him.
-His excessive referencing he is going to create task forces for everything to me signals that he is going to use them as a shield to hide behind to protect himself from the blowback of the effects tightening will have on markets.
Overall this was extremely hawkish and Warsh appears to be more of a hawk than Powell was. His focus on price stability and inflation while disregarding the employment mandate would seem to suggest we are going to see a more aggressive tightening bias in the near term that could disrupts markets with the goal of longer term price stability. Everyone who thought he would be another Mirin because Trump appointed him clearly disregarded his hawkish history on the Fed. I'd say we are in for a bumpy ride.
@snorlax_uw Looks like there were a lot of 50-share allocations for retail, regardless of requests up to 1000.
Thinking someone doesn't want covered call writes when the options chain opens...
It's true, and it was a heck of a ride as those IPO's went off. And plenty of hot stock splits too...
But none of them were shooting for a Hail-Mary and land in the top 5 market caps in the world.
It's when new rules are made and standards are set aside that things get hairy.