Farmer @ Johnsongrass, TX said:

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Another use for a Zoom call..

https://www.cnn.com/2021/12/05/business/better-ceo-fires-employees/index.html

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I found that very difficult to watch. Garg handled that without any empathy towards those poor folks losing their jobs and he made it about himself and how he feels.

F'ing amateur and a shi-t leader that doesn't deserve to be where he is.

You guys got me ranting, sorry.

There are so many charlatans in C level positions, it's almost unbelievable. Many are dumber than rocks and they got there because they're absolutely shameless with zero ethics and regard for people. I can't tell you how many "famous" people I have come across and after talking to them, was totally unimpressed.

$30,000 Millionaire said:

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You guys got me ranting, sorry.

There are so many charlatans in C level positions, it's almost unbelievable. Many are dumber than rocks and they got there because they're absolutely shameless with zero ethics and regard for people. I can't tell you how many "famous" people I have come across and after talking to them, was totally unimpressed.

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Funny to hear you say this. By far not in all cases, but there are some neurosurgeons in academic medicine who could not make it in community or private practice. They have bad bedside manner, bad surgical technique, or are just altogether insufferable.

I have seen over the years a number of neurosurgeons who train at "prestigious" programs and can't operate their way out of a paper bag. We typically associate these monster programs with incredible surgical ability, but that is far from the truth in all cases.

Certainly sounds like the same is true in business.

100%.

Zuckerberg is a lizard person, JFYI.

sts7049 said:

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My stock portfolio this week pic.twitter.com/wrhfZscTQj

— FedProm 💃🏻 (@FedProm) December 5, 2021

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Y'all better get used to seeing this because I can't stop laughing at this haha

$30,000 Millionaire said:

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You guys got me ranting, sorry.

There are so many charlatans in C level positions, it's almost unbelievable. Many are dumber than rocks and they got there because they're absolutely shameless with zero ethics and regard for people. I can't tell you how many "famous" people I have come across and after talking to them, was totally unimpressed.

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Unfortunately there's POSs in every field, industry and corporations.

I thought of this and wondered it it would work in the current environment we now live. Anyone is welcome to call me a dumbass if it's not feasible. Not creating a political discussion, but everyone here knows what's up. If I was the decision maker of a medium to large corporation then I'd love to implement this.

I'd remove names, sex, race, clubs, etc from all resumes and they'd be assigned a number upon their first contact with my business. I'd only want to see your qualifications, work history, education etc. The decision maker wouldn't even know your name until THE interview. That would put the best of the best in front of me. I don't care what you look like, your race, sexual orientation, what you believe in, or how you might vote. IDGAF, I'd want to hire the best. IMO, if a company did take this route, then they might not check off all the boxes, but I believe they'd be positioned to excel in their industry. There's too much crap that clouds decisions because everyone is too worried about offending someone. I may be wrong and feel free to let me know if I am.

I've been focusing on trading breakouts from inside bars on the daily chart. Just a scalp or a day trade on the weekly options. Here's my watch list for tomorrow. (yellow lines are my triggers, blue lines are my targets to take profits or move stops up)

PFE
Bullish flow so I like calls better than puts.
Looking at the 55C if it confirms a breakout over 54.28... 53.5P if breaks under 53.72 (with a tight stop)


WMT
Bullish flow as well. I like the 140 or 141C on the break above. 135P if it breaks below 135.29 (but once again a tight stop with the bullish flow)


KR
Bearish flow so I like puts better here. 41P saw tremendous volume on Friday. Looking for a break below 43.27 for these.


I've got more but don't like the setup as much as these three.

Because you touch yourself at night.



Sorry, couldn't pass up that response. I'm hoping this is red during low volume premarket so it can go red to green after the first hour. I'm hoping. It could also be the curtailed tapering hitting higher beta stocks.

Howdy everyone! Sorry for my absence. I did a little shopping on Friday. I'm usually not a big 'BTMFD' person, but a few got my attention that I couldn't pass on. This is what all I added. These were equity adds. I'm done with options for a bit until this COVID crap knocks it off.

SOFI at $15
ATVI at $57
CHWY at $61 (****ing Wedbush)
WMT at $137 (WallStJesus put me on this)
PLTR at $18.50
DKNG Sold 1/21 $30P at $4.50
MRK Sold 1/21 $80P at $8

I went short "10am bowl games" last night.

Monday Macros....

Market Volatility Continues...IS Fed Put Dead...China Eases... Equities Up/Down

We said that volatility would increase going into the Fed meeting...it seems like WILD FRIDAY'S are the name of the game... Hedge funds have been short the long end of the curve and been long FAANG stocks... They have not done well and are now reducing their footprint in the markets... Both Goldman and Stanley prime brokers are reporting that HFs are reducing their grosses and more concerned about year end P+L... That just plays into the current flows...

Overnight the S+P dropped about 40 points from 4.02 am to 5.57 am, going from 4571 to 4531... The only thing we saw about that time was the headline of the Chinese Central Bank easing the RRR 50 basis points and adding 1.2 trillion of Yuan effective December 15...we doubt that was the reason as we view that as bullish... But clearly volatility will be with us until at least 24 hours after the Fed announcement on December 15.

Fed... Powell Pivot... Clearly that was one big piece of news last week... Congress is more concerned about inflation and that is what their constituents are worried about...By acknowledging inflation and retiring the word transitory from the Fed dictionary, Powell is at least starting to go in the right direction... 3 rate increases are being discussed... Some have four... And we listened to David Rosenberg talk about none for 2022... Given his three D's Demographics, Deflation (debt) and Destructive technology... We googled these and we see he has had other D's in the past.. But Demographics is one we agree on... The other two not so much... Meanwhile every Fed governor that spoke last week talked about accelerating tapering... So we expect the Fed wants to get some optionality on the table... But is the Fed put dead?... Not by a long shot... Real rates are still the most negative that we can remember, and even if the Fed raises three times with inflation where it is, real rates are still negative...

Inflation ,economy, supply chains... We have seen many write that inflation has peaked... Maybe so, but this week we get CPI, which is expected to be 6.8%, seems pretty high to us given 10 years and bonds are 1.39 and 1.71, respectively ... The economy remains strong, even though GS brought down their 2021 and 2022 GDP estimates by .4.. Atlanta Fed GDP is approaching 10%... As for supply chains, we hear of improvement, but we still do not see it... Number of ships anchored off the LA coast has gone from 86 to 96... And one of my old friends, who is an ex Solly guy, was telling me the story that his Jeep SRT reached its end of life, so he went into a Jeep dealer ... No new Jeeps and only 3 ugly used ones... We could go on.

Employment number was good except for the nonfarm headline... After reading all the views over the weekend, it seems that the household survey is showing that workers are starting up their own companies... And no longer want to go to corporate environments...remember, if you start a new business you appear in the household survey as employed but you won't be counted in the establishment survey... That goes in line with the Barron's report that the number of self employed workers has reached 9.44 million...

Markets... Will remain tricky with limited liquidity in both directions... There are two things we predicted correctly... 5 years would reach 1.31 and the 5/30s would reach 56... We get asked all the time where will the 10 year be at the end of the year... Heck, we do not within 5 basis where it will be tomorrow... 10 years on Friday got through our 1.36 resistance at the end of the day on panic buying... They got to 1.34, now 1.39... 1.33 is now resistance with 1.22 if it rallies again. This could happen as more talk about a Fed mistake... We view the mistake as missing inflation and think the Fed view of tightening for next year is slow, but in the right direction... As for support, use the same numbers we have seen..1.43 1.52 1.70... 5 years remain in the 1.04-1.31 range... Long bond is bound to flows and positioning... 1.625 resistance and 1.80 support... We referenced Rosenberg before, we recommend you listen to the Thursday Macro voices segment, it is good and relevant, even though we think he is wrong...nonetheless he sees 10 years at 1% and long bonds at 1.3%... With inflation where it is, we can not agree... And if the rates remain there the Fed should not raise rates, but just unwind the Balance sheet in the long end... That would give them extreme optionality...and if you think this is too far out there, we got the idea from the KC Fed.

Flows... All the economic numbers indicate we should be at higher rates and trending flat to higher equities... Here one can blame hedge funds...BB had an article on Chris Rokos this morning, one of the best hedge fund traders we can remember...he gained 1.5% last month, but his 12 billion HF is still down 25% this year.. To quote BB "Rokos is among a group of high-profile macro traders who have suffered because of bond-market volatility triggered by growing speculation that central banks will raise rates faster than expected to contain inflation. His fund's decline, however, stands out as one of the biggest in the macro fund industry. " According to GS prime brokerage HF counted expensive tech stocks as a third of their holdings at the start of the 4th quarter, and are quickly exiting those positions...hence the Nasdaq giving back most of their 2021 gains... We could go on.

gougler08 said:

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Why are the Qs getting beat up so far today?

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Rotation out of companies that don't make money

I'm kind of a jerk sometimes, so I'm kinda hoping this morning is the last time EVER that anyone can buy Disney sub-$150.

ELOX - time for me to exit. Should have done so a month ago.