Investing General Discussion

13:15 (US) Fed Chair Powell: 50bps hike will be on the table for May meeting; It is appropriate to be moving quickly - IMF panel comments
- Going to do our very best to accomplish a soft landing
- Many at the Fed thought it would be appropriate for one or more 50bps hikes
- It is absolutely essential to restore price stability
- We are unified with allies in opposing Ukraine invasion
- US economy is a bit more remote from effects of the war; We feel the effects of the war with upward inflation effects
- Economy is performing strongly and labor market is tight
- Had expectations that inflation would peak around this time; These expectations have been disappointed in the past; Want to see actual progress on inflation coming down
- Will not count on supply side healing to tackle inflation
- May be that peak for inflation was in March but we can't count on it
- We are going to be raising rates and getting expeditiously to neutral; Then will get to tight policy if appropriate
- We have a job to do on demand; Reiterates Fed cannot fix supply side problems
- We have seen some tightening in financial conditions
- We've got a demand-supply imbalance in the labor market and elsewhere
- It's clear globalization has slowed down and may go into reverse; Less globalization could mean higher inflation and lower productivity
- US labor market is too hot; It is 'unsustainably hot'

Our 62% labor participation rate is "too hot?"

Boomers drinking margaritas on the beach arent coming back.

I dont think Fed had anything to do with today. Powell didn't say anything that he hasn't already. On a technical perspective, the indexes just came into big overhead resistance. The SPY rejected both the 100D and 200D moving averages. We are going to need a big surge of buying volume to come in and clear that and hold.

Rising rates (again today) and a more hawkish Fed dont bode well for the market to spontaneously just smash through that resistance back towards highs.

Overnight rates creeping up. 10yr nearly hit 3%.

Going to put some further pressure on markets.

If DIS thought the DeSantis issue was bad, wait until they experience the Cramer kiss of death

Fogel said:

If DIS thought the DeSantis issue was bad, wait until they experience the Cramer kiss of death

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Me every time I see Cramer make a shit call, but not get tarred and feathered out of the industry:

Cleveland-Cliffs (NYSE:CLF) reported its Q1 earnings results on Friday, April 22, 2022 at 06:00 AM.

Here's what investors need to know about the announcement.

Earnings​

Cleveland-Cliffs beat estimated earnings by 22.14%, reporting an EPS of $1.71 versus an estimate of $1.4.

Revenue was up $1.91 billion from the same period last year.

Past Earnings Performance​

Last quarter the company missed on EPS by $0.34 which was followed by a 9.69% drop in the share price the next day.

Raises FY22 Average Selling Price Guidance From $1,225/Net Ton To $1,445/Net Ton​

Earnings call at 10am est.

SP waiting on call, I can't think of a better situation steel is in than right now, the issue i've been concerned about for a while is how long the steel tariffs will last, I can imagine when globohomo is ready to rebuild Ukraine those prices might not be very attractive but there hasn't been any calls on the hill to get rid of them with all this inflation in the news.

CLF has proven to be a very well managed company under Lorenzo, nobody thought it would be in the 30's last year, when it was in the bowels of hell pushing into the 16's.

Zog bullish? Post that permabear stuff that makes my dick hard bro.

Zzen said:

Zog bullish? Post that permabear stuff that makes my dick hard bro.

Click to expand...

Can't be bearish on commodities, especially steel, summer time is peak business season.

As far as technicals on the q's, bounced off 50% fib and broke 61% fib yesterday, long term were going lower, especially if vix gets back above 30.