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Median 2023 projection slightly above 4.6% now is what has the negative price pressures here. Everyone was expecting the 75bp move.

"This could be a Fed decision day with good news, says Jim Cramer" Ummm.. we're fucked.

Again, whatever you think of the US economic situation, everywhere else is worse off and this is why there is such dollar strength at the moment. 05:07 (JP) Japan 10-year JGB bond agains fails to trade (2nd straight day) **Note: 1st time since 1999 that 10-year bond has not traded for two...

Fidu.. fiduci.. fiduciary.. what's that!?

Literally posted on this same page yesterday.

Whatever you think of inflation here, Germany is in far worse shape! https://www.reuters.com/markets/europe/german-producer-prices-post-record-jump-august-2022-09-20/ PPI August readings up 7.9% month over month and 45.8% year over year! There's your direct spotlight on their energy crisis...

I still think current street pricing is something like 80% chance of 75bp and only 20% on 100bp. I'm sure market would dump if they came out with the latter, however, with all the "lagging indicators" talk on some of these inflation metrics, I fully expect JPow to play it cool with 75bp.

My point was the overall run up of crypto and the demand (and subsequent fall) of GPUs was lockstep in the rise and fall of that crypto market. Etherium moving to Proof of Stake is just further reduced mining demand on an already flooded market of gfx cards.

It was all over the tech channels over the weekend that EVGA has cut ties with NVIDIA and will no longer be making any graphics cards using their tech anymore. Pretty big deal in the PC gaming world. They had something like a 30 year close relationship and EVGA has one of the best returns...

https://www.bloomberg.com/news/articles/2022-09-19/home-flipper-opendoor-hit-with-losses-in-echo-of-zillow-collapse?srnd=premium&sref=9HT8lz40 "Company lost money on 42% of its August resales after it failed to anticipate slide in housing demand. "

Lee is to bulls what Gartman is to bears. Probably some truth somewhere in between.

Quad witching day. (Let as many options expire as worthless as possible?)

To get you started: - Guides Q2 $2.75 or greater v $5.62e, Rev $23.5-24B v $24.8B - Cuts FY23 capex $6.3B v 6.8B prior - Affirms to repurchase $1.5B of FedEx common stock in fiscal 2023 - FedEx Express results were particularly impacted by macroeconomic weakness in Asia and service challenges...

FedEx posting preliminary earnings and a big miss. 16:30 [FDX] Cuts Q1 $3.44 v $5.06e, Rev $23.2B v $23.7Be amid 'global volume softness that accelerated in the final weeks of the quarter' -FedEx Express results were particularly impacted by macroeconomic weakness in Asia and service...

Apparently Kanye West is live on CNBC giving market opinions. *This has to be the top, right??*

That T chart is ugly. That yield is tempting, but my question would be... wtf is going on that it is bleeding so hard? Technically speaking, your buy is at some support, but why is this so abysmally weak in the first place? *edit* Quick browse shows T being the highest debt to market cap ratio...

We are flirting with a really precarious level of the SPY 390 here. I don't think the bulls would give this level up too easily. But if we do, I wouldn't be surprised to see some accellerated selling and opens the possibility of re-testing lows in the coming weeks. That said, I have orders out...

Buying straight up stock or options puts zero money in any company's pockets. (With the exception of the actual IPO) If I am buying stock or an option, I am simply buying it from another shareholder like myself. Be it a retail trader, pro, hedge fund, etc. For every buyer is a seller.

10% outflows, so .. not as many as before. https://www.bloomberg.com/news/articles/2022-09-01/cathie-wood-s-arkk-sees-biggest-monthly-outflow-in-nearly-a-year?sref=9HT8lz40

Looks like we're about to crash and burn: https://www.bloomberg.com/news/articles/2022-09-14/cathie-wood-goes-on-biggest-dip-buying-binge-since-february?srnd=premium&sref=9HT8lz40

QQQ down 5% on the day.

Well... big miss on that CPI data... Look out below.

https://www.wsj.com/articles/fidelity-weighs-bitcoin-trading-on-brokerage-platform-11663008698?page=1

AAPL doing a lot of heavy lifting on the indexes today. +4.2%

Markets have been openly pricing in a 75bp move. That would shock absolutely no one.

For reference, we are basically back to pre-Ukraine invasion prices. This should also have a noticeable influence on CPI / PPI readings.

T+2 business days. If you sent Fri and Mon was a holiday, you’re likely cleared overnight tonight

Another false break and reclaim of the SPY 390 level. (This is why technical analysis pays). I had been talking about strength using this level to buy off of, vs some random buying above this. Not to say we can't ultimately fail this, but the continued strength holding up here is a good thing.

ISM print this morning reports that the Business Activity Index was the strongest reading of the year. Volume selling hit all indexes on that print. Thinking it is being digested as the Fed needs to be more aggressive. Still not doing enough to quash demand / inflation.

Re-added more TQQQ and AMZN at the lows before the close.

15:17 [SIE.DE] Spokesperson: As a manufacturer of Nord Stream 1 turbines, we can only state that such a finding of 'oil leak' does not constitute a technical reason for stopping operations - It is a routine procedure to seal such leaks on site; It is a routine procedure within the scope of...

I think you are talking about the planned halt from Aug 31st-Sept 2nd for maintenance (this isnt the first). It has been speculated for Russia to not resume gas flow as a political bargaining chip. Germany / Europe have been expecting the pipeline cutoff for months and taking measures. Yesterday...

12:22 [GAZP.RU] Transport of gas to the Nord Stream pipeline has been completely halted after oil leakage was detected during routine maintenance works; No timeframe for restart of gas supply through the pipeline - Gazprom statement - During routine maintenance works oil leakage was detected...

My take was, SPY 401.50 is a solid pivot. Would have been surprised to break through that today. Once it failed that, would have been pulling back anyway, but market was blindsided by the news of Russia's gas pipepline being kept offline. It was off for maintenance and was told yesterday it...

This is a pretty hefty pull back. 5 solid days of red and a 41 point SPY drop from the 200D rejection. Not at all saying this is a bottom, but when we move so much so quickly, we are bound to get a relief bounce and this SPY 390 is a fairly significant level. More than worth the punt and...

Shopping list today was SPY 390.5 (for IRA), AMZN 124.20 and TQQQ 26.30 for swing account.

10:47 (US) Market Trading Hours Summary: Ominous investment landscape confronts markets heading into September Summary: Risk appetite remained suppressed by a host of factors coming into today’s session. Rates continued to rise globally despite signs of economic weakness, while US stocks look...

NVDA nearly hitting SSR level. Impressive.

Got some SPY re-buy orders out there for the ~390 level. (Sold off a good chunk at the 431 level (200DMA:emoji_nose:. Of course leaving plenty of firepower for adds lower. Wouldn't be surprised at all to get some revisions down ahead of earnings as recession risk starts setting in.