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We currently have both Powell and Putin speaking. Today is a quad witching Friday going into a 3 day weekend. Don't try to be a hero today.

https://www.bloomberg.com/news/articles/2022-06-17/crypto-traders-turn-against-each-other-in-a-collapsing-market?srnd=premium&sref=9HT8lz40 With profits scarce, attacks on trading positions can pay off One trader gets liquidated, another gets a liquidation fee

Asking how to short a stock right when we have ripped >20% off the peak is the equivalent of buying high / selling low. You're trying to sell the low. Sure we can have more downside, but this thesis of being negative on the market should have started months ago. Same shit in the bull market /...

NYSE 90.8% decliners. Also, Dow <30k

14:38 *(US) FED CHAIR POWELL: DOES NOT EXPECT 75BPS HIKES TO BE COMMON; EITHER 50BPS or 75BPS RAISE SEEMS MOST LIKELY AT NEXT MEETING - POST RATE DECISION COMMENTS: - Next meeting could well be decision between 50bps and 75bps; Would take us to a more normal range and then we'd have...

14:31 (US) Fed Chair Powell: We have resolve on price stability; We are moving expeditiously on rates - post rate decision prepared remarks - It is essential we bring inflation down; That will help labor; We continue to see risks on inflation front to the upside - Inflation has surprised to...

**ECONOMIC FORECAST (central tendency): GDP: - Cuts 2022 GDP 1.5-1.9% (prior 2.5-3.0%) - Cuts 2023 GDP 1.3-2.0% (prior 2.1-2.5%) - Cuts midpoint 2024 GDP 1.5-2.0% (prior 1.8-2.0%) - Affirms longer run GDP 1.8-2.0% (prior 1.8-2.0%)

Apparently @Mist doesnt read anything on this thread and just shitposts.

14:00 *(US) FOMC RAISES TARGET RANGE BY 75BPS TO 1.50-1.75% (AS SPECULATED); BALANCE SHEET REDUCTION TO PROCEED AT ANNOUNCED PACE; SEES ONGOING RATE HIKES TO BE APPROPRIATE - IOER raised by 75bps to 1.65% - Vote was 10-1; George dissented, wanted 50bps raise - Projections show Fed expects to...

- Raises Median forecast for end-2022 rate 3.375% (prior 1.875%) - Raises Median forecast for end-2023 rate 3.75% (prior 2.75%) - Raises Median forecast for end-2024 rate 3.375% (prior 2.75%) - Raises Median forecast for Long Run rate 2.50% (prior 2.375%)

fake? nothing on their twitter

Fed t-minus 3 minutes.

More from the Ford CEO: - Have seen Mach-E profit wiped out by rising commodity costs

10:58 Crypto Hedge fund Three Arrows Capital said to be facing insolvency following crypto downturn - press - Source TradeTheNews

Ford CEO stating that auto loan delinquencies increasing. Follow up on this I find interesting: He also states that SUV demand remains robust despite gas prices. I remember living in the states in ~2005 (pre financial crisis) and gas prices hit $3 and people lost their minds. SUVs were being...

10:12 [TSLA] PlainSite legal blog makes renewed allegations of fraud against Telsa - Tweets: "We obtained internal $TSLA documents from a number of whistleblowers that prove that Tesla and Elon Musk have been defrauding investors for years in a variety of different ways. But the most...

The issue with the hike today becomes about credibility. Markets have been pricing in a 75bp move. However, Powell had just said 75bp moves are off the table at the meeting last month. Doing an about face on that admits that inflation is out of control and that he is wrong. Despite the fact I...

https://nypost.com/2022/06/14/data-likely-shows-teslas-on-autopilot-crash-more-than-rivals/ 14:46 [TSLA] NHTSA data likely shows Tesla Autopilot has disproportionately more crashes than rival automated driving systems - NY Post - In coming days, the National Highway Traffic Safety...

11:58 [COMP] Said to cut ~10% of workforce due to slowdown in US housing market - press

12:03 [RDFN] Asking ~8% of workforce to leave the Co, could be facing years, not months of fewer home sales - filing Due to market conditions, on June 12, 2022, we decided to reduce our number of employees by approximately 470 employees, which represents approximately six percent of our total...

Wait, we bounced?

Speaking of: - Prior PPI Final Demand MoM revised lower from 0.5% to 0.4% - Prior PPI Final Demand YoY revised lower from 11.0% to 10.9% - Prior PPI (ex-food/energy) MoM revised lower from 0.4% to 0.2% - Prior PPI (ex-food/energy/trade)MoM revised lower from 0.6% to 0.4% - Prior PPI...

13:30 *(US) MAY PPI FINAL DEMAND M/M: 0.8% V 0.8%E; Y/Y: 10.8% V 10.9%E - PPI Final (ex-food/energy) M/M: 0.5% v 0.6%e; Y/Y: 8.3% v 8.6%e - PPI Final (ex-food/energy/trade) MoM: 0.5% v 0.6%e; Y/Y: 6.8% v 6.9%e PPI just slightly under estimates.. queue the talking heads resuming the "peak...

Coinbase announcing they are reducing their staff by 18%.

5B sell side moc

https://www.bloomberg.com/news/articles/2022-06-13/microstrategy-s-bitcoin-bet-backfires-as-losses-near-1-billion?srnd=premium&sref=9HT8lz40

https://www.wsj.com/articles/bad-inflation-reports-raise-odds-of-surprise-0-75-percentage-point-rate-rise-this-week-11655147927?mod=breakingnews https://www.bloomberg.com/news/articles/2022-06-13/wall-street-floats-100-basis-point-fed-hike-as-inflation-stings?srnd=premium&sref=9HT8lz40

Bitcoin 23k

$REV (Revlon) preparing to file for Ch11 bankrupty as soon as this week. The first of many to come.

They did this in 2018 when we had zero inflation. They were trying to normalize rates upwards and the markets puked in Q4. Fed backed off and we continued the bull run in 2019. The massive elephant in the room now is 40 year high persistent inflation. That is going to take precedence over the...

Youd think you would learn about whole number orders. hah.

My DIS filled right at closing candle of the day.

Starlink?

10:37 (US) Market Trading Hours Summary: May CPI print a gut punch for markets Summary: May CPI data ran significantly hotter than expected across the board. Headline data returned to the highest annual pace since 1981, spurred by surging energy prices. Airfares and a rebound in used car prices...

Today? Not likely. After the Fed next week? Quite possible. See market summary below:

$DIS 99.50 a significant level we are close to.

10:00 *(US) JUNE PRELIMINARY CONSUMER CONFIDENCE: 50.2 V 58.1E (record low) - Current conditions: 55.4 v 62.9e (record low) - Expectations: 46.8 v 55.3e (lowest since May 1980) - 1 year inflation expectations 5.4% v 5.3%e - 5-10 year inflation expectations 3.3% v 3.0% prior (highest since 2008)

08:30 *(US) MAY CPI M/M: 1.0% V 0.7%E; Y/Y: 8.6% V 8.3%E (highest annual pace this year and since 1981; above all analyst expectations) - CPI (ex-food/energy) M/M: 0.6% v 0.5%e; Y/Y: 6.0% v 5.9%e - CPI Index NSA: 292.296 v 291.694e - CPI Core Index SA: # v 291.945e

Had the same fleeting thoughts re WH pres sec talking an elevated print. Part of me thinks "underpromise, overdeliver?" In that case, the sell yesterday would likely get bought violently if we come in under. However, I am not so sure that is the case. Also keep in mind, this is a lagging...