Global Financial Crisis (2 Viewers)

pavelnel

Senior Member
Oct 24, 2006
1,030
Just numbers on a computer screen, that's all that it is.

The Fed is seemingly hellbent on taking the Japan approach, creating a zombie economy. They think they can control every single facet of the economy like gods, but unlike how they force us to buy stocks instead of save, then can't force the market to buy their shit forever.

Inflation is below their 2% target, but everyone knows prices for goods at the store keep going up. Meat, wheat, rice, paper, et cetera all going higher. It's like these guys don't live in the real world.
The calculation of inflation is outdated and out of sync with economic reality. I suppose too much weight is given to energy and services while real goods are becoming relatively more expensive.
 

Bjerknes

"Top Economist"
Mar 16, 2004
101,650
The calculation of inflation is outdated and out of sync with economic reality. I suppose too much weight is given to energy and services while real goods are becoming relatively more expensive.
Indeed, as prices of goods you need to survive go higher, causing pain on the middle class and poor. Powell doesn't care if he has to pay dollars for a pack of paper towels.

Gold up 1% after this Fed meeting, not surprising.

Someone asked the question whether the Fed creates inequality. Powell's response: "markets stopped working during Covid, financial turbulence can amplify economic impacts, we want the markets working, inflation is low and labor market needs to get back in shape. We are focused on goals and not focused on asset prices at all. Hope that continues... " :bianconero: :lol: Didn't answer the question at all. Just all a bunch of lies.

Market must have liked that, stawks going higher now.
 

Bjerknes

"Top Economist"
Mar 16, 2004
101,650
Looking like another crazy day tomorrow. Futures up nicely and some nice longs playing out. I hope this market lasts forever.:sheik:

But it shall not.
And it did not, as now we have a huge red candle on the S&P 500 futures, down 2.5%. Dow futures down 3%. Top?

That's a nasty red candle. We tagged the weekly open and then sold hard. Need to get some buyers in here, otherwise this could get ugly fast. Everything getting hit hard, even TSLA.
Emini.png
 

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duranfj

Senior Member
Jul 30, 2015
6,680
Stock Market can be move for so many reasons as we all know but at the end it would always be attached to general market. It could showed different timing, speed, rate in a period but at the end it would always follow market path
 

Bjerknes

"Top Economist"
Mar 16, 2004
101,650
:lol:

I’m switching to Webull
Never used Webull, but Robinhood isn't really bad other than they have service problems when everyone is trying to sell. The options trading platform is actually easy to use and it's so nice not have to deal with friggin' commissions.

@Bjerknes Bet you're glad you didn't hold onto those Tesla calls now :D
No doubt man, I got lucky because I was seriously thinking of holding them until Friday. I would have erased most of my gains. Today wasn't good, but I hedged myself with a Netflix short position that saved my ass on the day.

Tomorrow or Monday markets will be up 2-3%. Irrational exuberance FTW.
Quite possibly. There's lots of support around the 3000 level on the S&P, including the 200-day and 34-day moving averages. It blew through all support levels easily today, so that is never a good sign. We can't afford another down day tomorrow as there isn't much support until 2927. What an ugly red candle, -5.7%.

I would favor a bounce tomorrow, especially because there will be a lot of shenanigans going on to prop it up.

SP.png


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Fuckin' hilarious. :lol:

For those that don't know, the VIX is the volatility index, usually it skyrockets on heavy down days.

 

Bjerknes

"Top Economist"
Mar 16, 2004
101,650
I like Robinhood but the recent crashing has me worried
This market isn’t for everyone, that’s for sure.

Look at this stupidity. Some kid was trading options and somehow got into the hole for 700K. He then took his own life. The guy writing this Tweet wants to sue Robinhood, but he doesn’t understand that the only way you can lose more than you invest is if you sell call options. It looks like he was writing (selling) a bunch of calls, which if you did that for the past few months, you would easily be destroyed.

It’s terrible, but nobody takes any responsibility anymore, it’s always someone else’s fault. People should not be trading options if they don’t understand the Black Scholes model, period.

 

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