So I'm finishing up the final prep work for a colonoscopy later this morning. Let's hope this isn't a metaphorical premonition for today's market.

RenoAg said:

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So I'm finishing up the final prep work for a colonoscopy later this morning. Let's hope this isn't a metaphorical premonition for today's market.

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God speed brother. Been there so empathized with you.

DKNG is getting tight. I'm still expecting downward pressure on the overall markets in August, so this would also drop. However, NFL training camps, as well as college teams are getting ready to start. As the football season draws closer, interest in DKNG will increase. I don't rec options, but this one is lining up for a nice run in the fall.

Tl;dr put DKNG on your watchlist

Your mission today, should you choose to accept it is THONGS. Any and all visual intel you can upload will benefit your brothers in arms and bring trading success in here.

This message will self destruct in 10 seconds.

WTF mate, you're cray cray but I tend to agree with that take.

Plan to head down to the beach after breakfast. Enjoying my coffee at the moment.

Wednesday Macros

Inflation is a bigger problem for the Fed than they realize... Kaplan and a few others seem to recognize it. Jay Powell is on tap today which could be his last time in front of Congress for the HH testimony.. Powell will either get reappointed and be back in February or not...We expect Powell today to recognize the potential for an inflation problem and tell the markets the Fed will be ready for it, but the problem is that it is here now... He will use the word "transitory" numerous times today... But between the CPI of 5.4% YOY yesterday and the expectation of 6.7% PPI today... It looks inflation is more likely to accelerate in the near term...we are not the only ones that think that...we saw a NFIB survey of small business owners where 47% in June said there are planning to raise average selling prices... This is an historic high... We saw the NY Fed publish earlier this week

NY FED: YEAR-AHEAD INFL. EXPECTATIONS RISE TO SERIES-HIGH 4.8%

Inflation is real... And it is time for Powell to get in front of it rather than explain it away... We now see there is a Friday meeting with both Powell and Yellen to discuss the financial risks of the Hot Housing Market... Here is the BB title

"Yellen, Powell to Discuss Financial Risks of Hot Housing Market.

Yesterday we saw a reversal of bond trading... After the almost double the expectation of CPI, bonds went down, but we said that flows could reverse that, and they did as long bonds soared in price... Many were left scratching their heads... But the bond market started to come back to Earth as the 30 year auction got close.. The auction was not great, with a 2 basis tail... That caused 10 years to get to 1.42, a reasonable support level, and then stayed there until we saw some buying both out of Asia and London... Now at 1.39... Yesterday we saw short tips react dramatically to inflation...1 year tips moved 30 basis points, 2 years 20 basis, while 5 years only moved 9 basis.

Question now is what happens next...Fed will continued to be pressured to reduce the buybacks in Mortgages, while eliminating mortgage buying is no brainer in our minds, Powell is fearful that it would send the wrong message...we think that message has to be sent... As for treasuries today, focusing on the 10 year, 1.36 will be resistance.. For support, we have 1.42, 1.47 and 1.52... If we start to break the 1.52 then the momentum will accelerate and the recent longs will be flushed... Be aware there are plenty that think 10 years will get back to 1%, and we saw Major of HSBC be the leader of that on BB this morning... We are not believers...

US oil demand is firing on all cylinders... Many are driving to their summer destinations, which is triggering an eighth consecutive drop in domestic stockpiles. This brings the total stockpiles down to February 2020 levels, which is pre-pandemic... Differences this time are that shale producers are not increasing their production... Banks are limiting them from borrowing, while eco friendly regulation is showing all oil producers the writing on the wall... We could clearly be heading to significantly reduced supplies, which some view as a good thing... But wait until gas soars another buck or two, and you may rethink that... Which is another part of inflation that is not transitory...

Equities are marginally higher, and we are still in a ok zone for now... Earnings that we focus on, financials, are not as good as advertised... But our view is the economy is still humming... And if the Democrats get their 3.5 trillion reconciliation bill passed, along with the negotiated deal, we will have another 4 trillion of stimulus coming... It is time for the Fed to "get real"... Have a good day...

59 South said:

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WTF mate, you're cray cray but I tend to agree with that take.

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I love to laugh ANNNDDD look at scantily clad hot women.

Please tell me that's the tagline on your online dating profile

A nice green day from my MA stocks would be nice ELOX and WWR

F da moon!

We goin to Mars!

I tried to tell you guys they wouldn't allow two down days

Found this guy. Gotta be some sort of good luck.

PDD at ~106.50 with big volume at the open

Set alert for $PDD $110 and when it goes off check flash volume, check macro markets stability and ONLY THEN enter July 30th $118 calls.

— 2021 Opportunity Stocks Knock (@oldarmy1) July 13, 2021