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SPY green on the day.

This is my take on my TQQQ $15 (21OCT exp) that Sanrith called out. I am not at all opposed to owning TQQQ at that price (minus premium collected). I have collected premium twice on this trade. Took 60% profits off the table on the last bounce. Re-entered recently back near original trade entry.

Pay attention. Even with this down move, VIX is still negative on the day. (-1.5% as of writing)

Not to mention simple upgrade cycles. So much covid bucks handed out, work from home, and a few other factors of the PC demand of the last 2 years. So take all of those who have upgraded recently. How many are actually clamoring to go right back out and buy ground-up PC builds again? The usual...

Hot PPI again 08:30 *(US) SEPT PPI FINAL DEMAND M/M: 0.4% V 0.2%E; Y/Y: 8.5% V 8.4%E

Economic slowdown may be one reason, making sub-par and expensive processors is the more relevant reason. AMD have really been showing Intel up for a while now. Like the good old 2000s era, Intel finally has some competition and are caught sandbagging innovation and AMD are reaping the rewards...

We're still in a bad news is good news / good news is bad news market. Headline hit: 11:01 (US) NY Fed Survey of Consumer Expectations: Household spending decline in Sept is largest in series history While poor for earnings / profits, the argument can be made that the Fed's tightening is...

UBER LYFT etc down on: 08:47(US) Dept of Labor releases proposal to force companies to reclassify independent contractors as employees

Market bouncing with volume on: 13:46 (RU) Russia Foreign Ministry Spokesperson: Russia is open for diplomacy - Source TradeTheNews.com Why anyone trusts Russia at this point is beyond me.

That is the big question that every analyst and talking head is pouring over right now. "Expected" earnings... Q4 foward guides are going to make or break those expectations. Semis are a bloodbath because AMD cut theirs. You had FDX warning weeks ago as the canary in the coal mine. What is...

All the MJ names on the move following: 15:01 (US) Biden Admin to ask officials to review how marijuana is scheduled under federal law and urging state governors to do the same - Biden to take executive action to end the current US approach to marijuana and directs US Attorney General to...

Dont worry, we've sold off the entire index pop following the news.

More transcript: - Does not see a hump shape in rates; I see us raising rates and holding them there until we get inflation close to 2% - Sees more rate hikes as necessary; Does not see rate cut in 2023 - Expects inflation to end 2023 closer to 3% than 2%; We have to be prepared for inflation...

TWTR just spiked and halted. TSLA dumping. 12:05 [TWTR] CEO Musk reportedly proposes in letter to Twitter to proceed with deal at $54.20 - press

Key word there being “briefly”. If that is the measure, then pretty much every car that has the windows rolled up is “briefly” a boat!

The more frequent we keep testing these lower levels, the more likely the break. Could also easily just flash lower and get bought back up (overshoot). This scenario to break and reclaim would be a decent buy signal for me. disclaimer: I’m typing this on a beach in Croatia, so detached from the...

Fwiw, I have a script on eSignal to overlay the daily 20ema and 50, 100, 200 sma’s on any timeframe chart. This way I can trade off my 5min, 1min, or 24sec timeframe charts depending on what setups I’m trading and they’re always in clear view. I’m sure there’s equivalents out there for ToS etc...

Wife and I never envisioned buying a house here in the UK, but it seems foolish not to when the currency discount is about 40-60% off historic averages. (I’m American / Brit wife). We’re seriously considering moving some cash over for a future purchase. Move cash over now, then BOE has to hike...

This wont help: 08:39 $AAPL - Foxconn removes iPhone 14 production lines as sales fall short of expectations -Asian Tech Press (sm)

Bond yields coming in a bit here. If this continues, markets can reverse. (Something to keep on radar) Also, Crude coming to the lowest levels since pre-invasion. (Clearly recession pricing happening, but a huge relief off of some inflationary measures)

Being a Friday? It is possible. A lot is going to depend on how we open and price action. That said, we have come a long way quickly. (That rubber band to the 20D I am always going on about)

The fuck? You do realize Trump nominated Jerome “money printer / inflation is only transitory” Powell, right? Fed is currently trying to unfuck their own policy fuck ups from the Covid response / late to the QT cycle. Fed is an independent body. Blaming anyone other than Powell himself and...

I assume you are talking about an EMA, not an SMA?

Nice find. I am in.

Tesla falling through all support today (20D and 200D). Weaker relative to an already weak market.

Powell speech notes: 14:30 (US) Fed Chair Powell: We are strongly committed to bringing inflation to 2% goal; Ongoing hikes will be appropriate - post rate decision statement - Surveys of inflation expectations have improved but that's no grounds for complacency on inflation - Fed is aware...

Fuckin Cramer does it again.

I think June lows by end of week is a huge ask. That is another ~20 points down on SPY. I think 370-373 is more realistic. (The last turn in July before we went higher) Also with you in that making bold bets here is perilous. There will be some digestion of Fed overnight.

That "noise" is a hell of a lot of volume.

Powell just flat out said we need a housing correction. Big red candles immediately after.

They ripped back up when he mentioned they will pause at some point, while acknowledging some inflation metrics are lagging indicators.

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...