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Oculus Spirit [97719]
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DJIA +630 today. That's awesome. So, why?
Jun 24, 2022, 12:42 PM
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Nothing has changed since the last GDP numbers, and inflation numbers. The fed just hiked rates 3/4 of a percent. Consumer sentiment is at or near all-time lows. So what happened to cause the money to flow again? This is telling.
The answer, bad economic news. Yep. That's good for Wall Street. And it's good for the economy. I said we need a recession. But the thinking is if the GDP drops again next month, demand craters, people start saving instead of spending, demand falls, supply can catch up, by the end of next year the Fed may again LOWER rates to stop a recession. Debt becomes cheaper again, and all is well.
Not sure I'm buying that take. But the Fed's words (yes Powell spoke) seem to have a greater impact on the markets than the economy. That's not a good thing. Literally in a couple of sentences, Jerome Powell can make trillions of dollars appear, or disappear. Just SHM.
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Oculus Spirit [81061]
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That's not a new thing
Jun 24, 2022, 12:45 PM
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I remember when Greenspan was Fed chief, there were websites that would report which arm he was carrying his briefcase every day, and somehow that was a tell into what the economy would do.
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All-TigerNet [10887]
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Some hope returns as the supreme court reigns in the
Jun 24, 2022, 12:46 PM
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out of control tyrants in the legislative and executive.
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All-In [40656]
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Now that abortions are ~*illegal*~
Jun 24, 2022, 1:26 PM
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The market knows there will be more consumers.
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Oculus Spirit [97719]
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Been scouring Twitter for riots and protests.
Jun 24, 2022, 1:46 PM
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Was looking closely for something that looked like this:
Was such a relief seeing maybe 400 or so wingnuts with purple and blue hair and megaphones crying and wailing. These are the protesters I'm absolutely not afraid of. Those January 6 folks, looked normal, and were tens of thousands strong, and were far and away more dangerous. In fact, I'm pretty sure January 6th impacted the court, in this case and probably many more. We got January 6th (in part) because of misguided federal court rulings and laws that should have never been federal in the first place. Took 50 years of bad SC decisions to get to January 6th, but this is a step in the right direction in preventing that, and a Trump-like President, from happening again.
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Oculus Spirit [97719]
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Oculus Spirit [81061]
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lol***
Jun 24, 2022, 2:50 PM
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Orange Blooded [4679]
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All-TigerNet [13110]
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Orange Blooded [2693]
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Re: DJIA +630 today. That's awesome. So, why?
Jun 24, 2022, 1:34 PM
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They are betting that stagflation will become the new baseline worst case scenario, which is less problematic than a severe recession which everyone was predicting last month.
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All-TigerNet [10859]
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Re: DJIA +630 today. That's awesome. So, why?
Jun 24, 2022, 1:37 PM
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New building starts anticipated to be up next week after the weekend riots burn existing buildings down.
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Orange Blooded [4679]
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Re: DJIA +630 today. That's awesome. So, why?
Jun 24, 2022, 1:52 PM
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Lol. That’s good. Sadly it might be true.
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CU Medallion [73569]
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they like scotus?***
Jun 24, 2022, 2:07 PM
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Hall of Famer [24059]
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Re: DJIA +630 today. That's awesome. So, why?
Jun 24, 2022, 2:57 PM
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One day of trading doesn't tell me much. Except, in this case, traders were trading (on average) at a higher price point for 30 large cap stocks.
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Hall of Famer [21940]
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Yesssss
Jun 25, 2022, 7:43 AM
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Darthsidiousgooooood.gif haha
That's how ###### our economy is!! Bad news? Rally bc QT may taper off. It's a joke.
Jokes and fed stomping aside, I think we are just seeing a bear market rally. EOM and EOQ position coverings, profit takings, etc by the Street. Sell the rally.
If you've been paying attention, you'll know when we hit bottom bc the Fed will tell us lol
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Hall of Famer [24059]
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Re: Yesssss
Jun 25, 2022, 8:27 AM
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No way around it. Feds going to have to continue to suck money out of the economy. Went long oil after Biden took office and went defensive about a year and a half ago. I know you didn't miss it, but if the oil play was missed a year or two ago, no reason to start now. Guess I'll have to except my negative 8% real return, for the time being. Could be some interesting fixed income a year or so down the road.
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