Jamie Dimon talking about the best economic growth he's ever seen on the horizon.

I smell a Biden admin rat spouting the company line just like Jim Cramer.

Take his words with a grain of salt.

I am sure they are just really good chartist....

Bonfire1996 said:

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Bonfire1996 said:

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BlueTaze said:

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ProgN said:

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Jamie Dimon sees the best economic growth in decades

https://www.cnbc.com/2022/01/10/jamie-dimon-sees-the-best-economic-growth-in-decades-more-than-4-fed-rate-hikes-this-year.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

Quote:

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Sees more than 4 rate hikes this year.

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A couple weeks after the S&P bottomed in March 2020, Dimon wrote a letter saying a bad recession was on the way, and that his BOD may have to suspend dividend under extremely adverse conditions.

So maybe back then that was in anticipation of a huge fed pump and stock market rally, and today he is anticipating aggressive fed taper and a stock market crash. Or he was just wrong.

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I think it's actually more sinister. I think GS and JPM want a tech crash to get more reasonable valuations for their clients. There is no yield to be had at 35x to 50x PE ratios in tech.

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Aaaaand, I was right:

CNBC
Goldman's says a tech disconnect is the 'single greatest mispricing' in U.S. stocks

A tech stock derating likely has further to go, according to Goldman Sachs' Chief U.S. Equity Strategist David Kostin.

U.S. tech sold off sharply in the first week of the year, taking the Nasdaq 100 into correction territory briefly on Monday before rallying to snap a four-day losing streak.

Analysts broadly expect 2022 to be a tough year for high growth tech names that have benefitted from ultra-loose monetary policy necessitated by the Covid-19 pandemic as that stimulus unwinds.

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This is their way of saying they missed on buying this dip...lol

Yesterday the Nasdaq hit the 10% corrective level and had a nice bounce to close positive yesterday and up 77 points this morning... S+P also had a nice move overnight bouncing about 25 points off its overnight low to be up 15 points... Both GS and UBS made positive equity comments... Today we have Powell being grilled for his confirmation hearing... Expect to see some push-back from the recent Clarida resignation, two weeks early due to equity trading, but we expect Powell to be easily confirmed and the questions from Senators more towards fighting inflation.

Fed speakers... Bostic started us out overnight with multiple headlines about starting raising rates as soon as March with every meeting being a live one... That caused the curve to flatten, on top of yesterday's flattening move... We still think the Fed will use the balance sheet to keep the curve steeper than it is currently...5 years have taken the brunt of selling, up 28 basis from the start of the year, which is only 7 trading days... 10 years remain in the 1.70-1.80 range for now... But we expect that to give out. As far as Fed speakers today besides Powell, you have two hawks, Mester and George, and one Super Hawk, which is Bullard... Pressure on flattening will remain as the short base in the long end of rates seems to be over their skis for the moment.

Rates...Leveraged accounts , like CTA's, are among the most bearishly positioned in bonds than they have been in years, according to Nomura's Quant Analyst Charlie McElligott. " the aggregate $Notional across the aggregate G10 bond positions is now greater than 2 standard deviation rank (IE very net short) dating all the way back to 2002" . Translated this means that while everyone knows the Fed is ending tapering, raising rates, and going to reduce their balance sheet, the straight line move is now going to be tougher... Too many shorts in the pie means we could get a move back in the long end in 10 years to 1.62, and long bonds to 2%.., we saw two strong moves in 10 years above 1.80 yesterday, which could not be sustained... So while Not a prediction, just a warning about a reversal...but for 5 years we see a 1.49-1.62 range... 10 years 1.625 to 1.92 range... But it will remain volatile... And with the 5/30's curve reversing in the last few days from 71, we can now see it get to 49.

Corporate spreads are better this morning with the uptick in equities... Yesterday 10 borrowers priced 12.2 billion of issuance.. Paying 5 basis in concessions... One borrower stood down and will revisit today... Corporate bond market remains healthy for now... The TLT Etf, which is a 20+ year treasury ETF, saw the second largest outflow since March 2020, the height of the panic.

We expect to see choppiness remain in both the rates space and the equity space... We do not think the worst is over for either...but the Fed is going to be Hawkish for this quarter...

Yesterday, major support in #ES_F was ~4685 and after the worst to a year since 2016 it clipped there and put in a daily hammer candle. Now battling at the 50dma

Plan today: As long as above 4645-50, 4708 next up (heavy res & gate to 4745). 4650 fails new lows incoming (4555) https://t.co/FfvFaOAsL2

— Adam Mancini (@AdamMancini4) January 11, 2022

BaylorSpineGuy said:

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So how much of this do you think is a head fake/misinformation vs reality?

Why would they offer to be so insightful for free?

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Here is what I really think:

Some major bank/broker called the bottom yesterday, and it wasn't Goldman. I'm thinking Chase or Morgan. This is Goldman wanting to retest those lows to get their clients in.

Jim Cramer started buying again in early afternoon after telling everyone over the weekend that more pain was needed before buying in. He never has an original thought and has no time for actual analysis, so he was tipped off by whatever bank/broker I discussed above that called the bottom.

Build Back Better will pass in some form and it will have major infrastructure spending on tech. This rate rise BS, which will spike but will never been seen through to the end is simply meant to hammer mid cap tech - and it has worked.

AAPL MSFT GOOGL FB AMZN NVDA are for your retirement funds. These investment banks got a 50% retracement on mid cap tech that will soon be Big cap tech in the next decade. They got what they wanted and got to buy mid caps at discounted valuations

I'm starting to like those TTD 85Cs a bit more today.