Historic increase in food stamp benefits is on the way
https://www.cnn.com/2021/08/16/politics/food-stamps-benefits-historic-increase-biden/index.html
Stock Markets
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Last: 1 hr ago by Heineken-Ashi
Historic increase in food stamp benefits is on the way
https://www.cnn.com/2021/08/16/politics/food-stamps-benefits-historic-increase-biden/index.html
DBX
Kinda like the 31.50s here...and...either way.
Potential trade plan....ballparks
8/20 weeklies or could use out a week 8/27 for the 32s
Puts: Rejects 31.37 or 31.60 = 31.5P - cut at support of prior low 31.15 - Target 30.50 or 50EMA. Have to watch 30.94ish for support.
Calls: Bounce at prior low of 31.15 or confirms 31.37 = 31.50C - cut at rejection of 31.60ish - Target 32/32.50+
Russell got abused overnight
Cathie responds to Burry
Most bears seem to believe that inflation will continue to accelerate, shortening investment time horizons and destroying valuations. Despite what we believe has been a supply-chain related/short term burst in inflation, both equities and bonds have appreciated since March➡️ https://t.co/K92t7KxT99
— Cathie Wood (@CathieDWood) August 17, 2021
Tuesday Macros
August Raising Its Ugly Risk Off Mode...China One Culpit... Treas Soar...Powell
Today is starting in a very risk off fashion again... S+P is near its lows of the overnight session, down 20 points... And treasuries are right up against the low yield of yesterday at 1.22 again this morning. The low overnight was 1.215... We see that as minor resistance today, with 1.18 and the potential of the third time down at 1... But first risk off trading.
Delta variant continues to plague markets, but not so much business transactions, nonetheless the fear is there. New Zealand announced a 3 day lock-down due to one case...seems extreme... But the big news overnight is the continued crackdown from China on their international big names, like Aliba. Chinese equities closed down 2% across the board . The latest are headlines about further Chinese regulation, triggering a fifth consecutive day of selling in the nation's bellwether technology stocks. China's top legislative body, the National People's Congress Standing Committee begins a four day meeting in Beijing today... Even, SEC, Gary Gensler, is warning against investing in China... BB daybreak reports "SEC Chief Gary Gensler warned Americans not to invest in Chinese firms."Thus not a good start of the day for risk...
Treasuries... While the amount of issuance this year remains the largest we have ever seen, there continues to be insatiable demand for cusips paper. The unsated demand for haven cusips from corporations, central banks, hedge funds and other asset gatherers, has soared. There is over 6.8 trillion in cash or short term instruments on corporation balance sheets that has to be constantly invested (45% higher than the 5 year average). 440 billion in dry powder held by alternative investment firms, and 7.2 billion of treasuries held by foreign entities(2nd highest ever). So even after 8.5 YOY trillion of issuance as of July 31, according to Sifma, the demand continues to dwarf the supply... Latest tic data shows a huge reversal of treasury buying from hedge funds, who had been sellers, and of course the Japanese...HF were buyers of 27 billion in the latest month of tic data, after selling 150 billion in the previous 5 months... While the tic data is lagging, it does seem that the trend is continuing.
Powell today... There are those that think that Powell will send us a message today when he hosts a town hall meeting at 1.30 for educators... We are not one of those. While there could be some questions about the Fed and inequality, we don't see tapering questions, unless there is a plant... Do not expect much.. But Fed governors are being added to the calendar for speaking...Rosengren was last night... Bullard is now tomorrow right before the FOMC Minutes... But the real headlines this week are fear of Delta variant, Chinese crushing of their global markets, and political fall out from DC...
Today... While we are a hawk, bear, on treasuries, we know when the long term trends are not working... And we have been constructive on treasuries until we clearly break 1.42 on the upside... So for today, 1.22 will be minor resistance, next 1.18, and finally the 1 we hit twice... The window from now to Powell's real speech next week at Jackson Hole could see a rally of the 10 year to .99.. The window is open for those that want to push it... Inflation is real, but for now fear and uncertainty have taken the front seat of markets... So beware... Small caps are trading horribly.
August Raising Its Ugly Risk Off Mode...China One Culpit... Treas Soar...Powell
Today is starting in a very risk off fashion again... S+P is near its lows of the overnight session, down 20 points... And treasuries are right up against the low yield of yesterday at 1.22 again this morning. The low overnight was 1.215... We see that as minor resistance today, with 1.18 and the potential of the third time down at 1... But first risk off trading.
Delta variant continues to plague markets, but not so much business transactions, nonetheless the fear is there. New Zealand announced a 3 day lock-down due to one case...seems extreme... But the big news overnight is the continued crackdown from China on their international big names, like Aliba. Chinese equities closed down 2% across the board . The latest are headlines about further Chinese regulation, triggering a fifth consecutive day of selling in the nation's bellwether technology stocks. China's top legislative body, the National People's Congress Standing Committee begins a four day meeting in Beijing today... Even, SEC, Gary Gensler, is warning against investing in China... BB daybreak reports "SEC Chief Gary Gensler warned Americans not to invest in Chinese firms."Thus not a good start of the day for risk...
Treasuries... While the amount of issuance this year remains the largest we have ever seen, there continues to be insatiable demand for cusips paper. The unsated demand for haven cusips from corporations, central banks, hedge funds and other asset gatherers, has soared. There is over 6.8 trillion in cash or short term instruments on corporation balance sheets that has to be constantly invested (45% higher than the 5 year average). 440 billion in dry powder held by alternative investment firms, and 7.2 billion of treasuries held by foreign entities(2nd highest ever). So even after 8.5 YOY trillion of issuance as of July 31, according to Sifma, the demand continues to dwarf the supply... Latest tic data shows a huge reversal of treasury buying from hedge funds, who had been sellers, and of course the Japanese...HF were buyers of 27 billion in the latest month of tic data, after selling 150 billion in the previous 5 months... While the tic data is lagging, it does seem that the trend is continuing.
Powell today... There are those that think that Powell will send us a message today when he hosts a town hall meeting at 1.30 for educators... We are not one of those. While there could be some questions about the Fed and inequality, we don't see tapering questions, unless there is a plant... Do not expect much.. But Fed governors are being added to the calendar for speaking...Rosengren was last night... Bullard is now tomorrow right before the FOMC Minutes... But the real headlines this week are fear of Delta variant, Chinese crushing of their global markets, and political fall out from DC...
Today... While we are a hawk, bear, on treasuries, we know when the long term trends are not working... And we have been constructive on treasuries until we clearly break 1.42 on the upside... So for today, 1.22 will be minor resistance, next 1.18, and finally the 1 we hit twice... The window from now to Powell's real speech next week at Jackson Hole could see a rally of the 10 year to .99.. The window is open for those that want to push it... Inflation is real, but for now fear and uncertainty have taken the front seat of markets... So beware... Small caps are trading horribly.
If AAPL can hold $150 going to look at adding some 9/20 $155 calls.
Yesterday, target in #ES_F was 4470 and we hit and sold off. This was the 5th day of ATH's in a row, making 11 consecutive weeks of ATHs. This will unravel hard so *watch risk*
— Adam Mancini (@AdamMancini4) August 17, 2021
Plan today: Support=4444-4436, it holds, another leg to 4506 resistance in play.4436 fails we pullback https://t.co/wX3ph4GWFp
this is actually inflationary because it is going into the hands of consumers directly.FJ43 said:
Historic increase in food stamp benefits is on the way
https://www.cnn.com/2021/08/16/politics/food-stamps-benefits-historic-increase-biden/index.html
You don’t trade for money, you trade for freedom.
$TSLA will open below both it's 34 EMA and 55 EMA and around -1 ATR. It will have sold from +2 to -1 ATR over basically 2.1 trading sessions. Obviously it could go either way, but don't get caught napping if this rallies.
options max pain is $690, which is fairly close to where we closed yesterday and close enough for a bounce rally today. The 200 SMA is $663, I would expect a clean bounce off of that no matter what.
options max pain is $690, which is fairly close to where we closed yesterday and close enough for a bounce rally today. The 200 SMA is $663, I would expect a clean bounce off of that no matter what.
You don’t trade for money, you trade for freedom.
I watched a lady selling a stack of 'food stamps' the other day to get cash to go into a liquor store.$30,000 Millionaire said:this is actually inflationary because it is going into the hands of consumers directly.FJ43 said:
Historic increase in food stamp benefits is on the way
https://www.cnn.com/2021/08/16/politics/food-stamps-benefits-historic-increase-biden/index.html
Meanwhile that same liquor store had help wanted signs on the front door.
Free market, man. It still exists.
RUT / IWM / RTY - I focus on IWM when charting and only look back on the others to confirm or deny what I'm seeing.
IWM broke through the first of two key support levels pre-market this morning when it moved below $217.10. It hit a low of $215.9.
I think we see a bounce today to the $219.40 - $220.50 and then it's off to lower lows.
IWM broke through the first of two key support levels pre-market this morning when it moved below $217.10. It hit a low of $215.9.
I think we see a bounce today to the $219.40 - $220.50 and then it's off to lower lows.
Too many alerts will be going off at the open.
What to do.....
Thinking about grabbing some more IMMR here below $7. Earnings beat on both EPS and revenue. No negative news out there on it that I can find. Maybe I'm missing something..?
Look out below.
$AMD r/s
You don’t trade for money, you trade for freedom.
Opt out. Buy Bitcoin.FJ43 said:I watched a lady selling a stack of 'food stamps' the other day to get cash to go into a liquor store.$30,000 Millionaire said:this is actually inflationary because it is going into the hands of consumers directly.FJ43 said:
Historic increase in food stamp benefits is on the way
https://www.cnn.com/2021/08/16/politics/food-stamps-benefits-historic-increase-biden/index.html
Meanwhile that same liquor store had help wanted signs on the front door.
$GLD good. I am not selling yet. Don't let winner turn into loser.
You don’t trade for money, you trade for freedom.
Long TSLA 675C
You don’t trade for money, you trade for freedom.
fruit red to green
if there is a bottom in NIO, this is close to it. at trend line from Nov 24 high. After this we revisit low 30s again
Yeah it bounced off that $37 area pretty hard right at the open.
Short term I'm thinking $98.50 - $102. Then I think we're going back to $125+$30,000 Millionaire said:
$AMD r/s
yowza.
You don’t trade for money, you trade for freedom.
ROKU trying to hold up the market
Not the equity I'd rely on for that kind of task.
Not the equity I'd rely on for that kind of task.
Nice scalp on SESN today
and failed. it looked so good for about 10 minutes.McInnis 03 said:
ROKU trying to hold up the market
Not the equity I'd rely on for that kind of task.
You don’t trade for money, you trade for freedom.
Needs to just touch the 20-21 day MA before any move higher. Its just hanging out waiting for the moving averages to catch up
AAPL holding on $150. going to add 8/27 152.50 calls
I'm still watching to see what it does here at yesterdays VAH
Lines up with the levels I'm seeing.Ranger222 said:
Needs to just touch the 20-21 day MA before any move higher. Its just hanging out waiting for the moving averages to catch up
WWR falling off a cliff
I remember when we would love buying WWR when it dipped below $5.
WOW?!
WOW?!
ROKU did not reenter yesterdays value area.....continues to flag. If macros can get their act together, it could resume upwards......McInnis 03 said:
I'm still watching to see what it does here at yesterdays VAH
The China will invade Taiwan bet is in
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