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Bob Knights Paper Hands
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AG 2000' said:

SAVA running AH. Shorts covering?

I think they would cover during the cash session for more liquidity (price moves less per volume of shares they buy back). I think we saw shorts start covering this morning but then reshort when major buying volume didn't flood in. Would have been nice for this release to have happened during a nice green day. I think it'll take more time to digest this do to Fed and macros going crazy. I think we'll see buying pick up tomorrow or next week. I'm not sure how high we'd go just based on this announcement. If we get above $85 next week that would be excellent.
Bob Knights Paper Hands
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Dan Scott said:

Kinda feel like 2 weeks ago. It was a Thursday where the market again rejected SPY 458 after gapping down and rallying. We broke down below 450. Friday was a down day, and then we remember what happened the following Monday,

If we break below the 200-day on SPX again I think we'll go quite a ways further down this time. We'll see.
sts7049
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AG
per mancini we are just in the chop zone really

ProgN
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Bonfire1996 said:




I'm still bullish on tech, and am focusing on highly profitable companies with great balance sheets.
This has been my approach over the last few weeks. I'm focused on the one's I've posted here since the beginning of the year.
SF2004
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AG
Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.

ProgN
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FAT SEXY said:

So much could have been fixed years ago, but instead the Fed has been can kicking pain down the road by shooting cocaine(QE) into the markets and back stopping companies that are deemed too big to fail.
Correct and both parties are guilty of the outrageous spending. However, the fed became political and that made things worse. Powell raised rates on Trump when inflation was nowhere near a threat as it was in Q4 when he did nothing. Had he raised rates 25 bps at the last 2 meetings of '21 like he should have, it wouldn't have been as bad as it is. The fed looks incompetent.
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Brewmaster
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AG
Brewmaster
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AG
SF2004 said:

Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.


I'll give you credit, I thought you were wrong yesterday. The buying volume yesterday was nuts. I was willing to bet the bottom was in and tech seasonal rippy was here. A little bounce tomorrow to play some puts would be nice.

Regardless, no overnight holds for me!
FJ43
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Just checked if the Q lottos calls still had a chance.

If we get any move up I'll exit at the yellow SR level no matter what.




Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

ProgN
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BREwmaster said:

SF2004 said:

Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.


I'll give you credit, I thought you were wrong yesterday. The buying volume yesterday was nuts. I was willing to bet the bottom was in and tech seasonal rippy was here. A little bounce tomorrow to play some puts would be nice.

Regardless, no overnight holds for me!
The market was already expecting crappy numbers. Indices went positive after the opening drop. Bullard's idiotic comment about 100 bps triggered algos to dump. If he'd have said that the Fed needed to take a more aggressive approach to inflation instead of "100 bps by July", I don't think we'd have had the puke we had today.
FJ43
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ProgN said:

BREwmaster said:

SF2004 said:

Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.


I'll give you credit, I thought you were wrong yesterday. The buying volume yesterday was nuts. I was willing to bet the bottom was in and tech seasonal rippy was here. A little bounce tomorrow to play some puts would be nice.

Regardless, no overnight holds for me!
The market was already expecting crappy numbers. Indices went positive after the opening drop. Bullard's idiotic comment about 100 bps triggered algos to dump. If he'd have said that the Fed needed to take a more aggressive approach to inflation instead of "100 bps by July", I don't think we'd have had the puke we had today.
Tough trading these days. Feels' like a daily tight rope walk for a while now. Hard to be confident in a direction IMO. I'm trading vs investing which is hard when you can't baby sit. At least for me anyway.

Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

wanderer
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BREwmaster said:


I'm struggling to grasp what OA is trying to say.
$30,000 Millionaire
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AG
Flash below the 4220 low we had, buy for a retrace / dead cat bounce. Sell 80% and keep 20% with a tight stop.
Bonfire1996
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AG
ProgN said:

FAT SEXY said:

So much could have been fixed years ago, but instead the Fed has been can kicking pain down the road by shooting cocaine(QE) into the markets and back stopping companies that are deemed too big to fail.
Correct and both parties are guilty of the outrageous spending. However, the fed became political and that made things worse. Powell raised rates on Trump when inflation was nowhere near a threat as it was in Q4 when he did nothing. Had he raised rates 25 bps at the last 2 meetings of '21 like he should have, it wouldn't have been as bad as it is. The fed looks incompetent.

Not incompetent at all. They know exactly what they are doing. It's on purpose
Farmer @ Johnsongrass, TX
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Bonfire1996 said:

ProgN said:

FAT SEXY said:

So much could have been fixed years ago, but instead the Fed has been can kicking pain down the road by shooting cocaine(QE) into the markets and back stopping companies that are deemed too big to fail.
Correct and both parties are guilty of the outrageous spending. However, the fed became political and that made things worse. Powell raised rates on Trump when inflation was nowhere near a threat as it was in Q4 when he did nothing. Had he raised rates 25 bps at the last 2 meetings of '21 like he should have, it wouldn't have been as bad as it is. The fed looks incompetent.

Not incompetent at all. They know exactly what they are doing. It's on purpose
I once had a link (I am trying to locate) of an article interviewing Ben Bernanke years after the financial crisis. In that article, Ben noted that before he left the Fed, he drafted a 25 year plan, step-by-step, of how to bring the economy back without issue. He noted that it was going to take a minimum 25 years. He stated Yellen followed the plan perfectly. He also pointed out that Powell went off script when he decided to raise rates (what ProgN is mentioning above) and according to Ben, almost repeated a financial crisis. It was awesome article. Basically, this paragraph supports what Bonfire 1996 is stating above.
OutlawAG04
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sts7049 said:

per mancini we are just in the chop zone really




Are we doom and gloom or we staying in this chop zone?
lobwedgephil
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Monday will be fun, be hedged if you need it.

Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, February 14, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C.. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, February 14, 2022
Matter(s) to be Considered:


Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.

Farmer @ Johnsongrass, TX
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I think chop zone - a volatile chop zone, JMO.
Dan Scott
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AG
lobwedgephil said:

Monday will be fun, be hedged if you need it.

Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, February 14, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C.. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, February 14, 2022
Matter(s) to be Considered:


Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.




An emergency meeting on Monday. Maybe some truth to the rumors of surprise rate hike
FTAG 2000
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AG
Dan Scott said:

lobwedgephil said:

Monday will be fun, be hedged if you need it.

Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, February 14, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C.. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, February 14, 2022
Matter(s) to be Considered:


Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.




An emergency meeting on Monday. Maybe some truth to the rumors of surprise rate hike
lobwedgephil
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Looking for into it, the language is the same and they have these meetings every few weeks. So probably nothing, but something to be aware of on Monday as a possibility.
Bob Knights Paper Hands
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I think it will be to make it clear to all states that covid is over. They are backed into a corner here and the only play is to loose the noose a bit and let the economy recover while they raise rates. I think that's their move.
YNWA_AG
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AG
Some WSB guy has 30 mil in SAVA
https://www.reddit.com/r/wallstreetbets/comments/spfed0/largest_bet_in_wsb_history_sava_3012196439/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Bob Knights Paper Hands
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Damnit, nevermind.
ProgN
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Morning gang

Everyone get some coffee, stick a pin in your Bullard voodoo doll and let's get the day started.
FJ43
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ProgN said:

Morning gang

Everyone get some coffee, stick a pin in your Bullard voodoo doll and let's get the day started.


Mornun Prog!
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

FJ43
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Mornun gents !

Well…..we shall see.

US red
EU red
Asia mixed
VIX wants 25

Be nimble and let the tape do the talking.

Trade wisely!



Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

OutlawAG04
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ProgN said:

Morning gang

Everyone get some coffee, stick a pin in your Bullard voodoo doll and let's get the day started.


I prefer the piñata. At least I get to hit something and get some candy for my efforts.
ProgN
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Still irritated about yesterday. The more I've thought about it I'd like to know who profited from Bullard's irresponsible statement because someone did.
BaylorSpineGuy
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Just a couple comments here about RGS. Admission:bag holder here since 3.76.

It looks like it has made a Diamond bottom and has rallied out of it. In the past week, twice it has rejected the 1.80 line hard with tall wick candles.

Wasn't someone here saying about knocking on a door three times? If it comes looking for 1.80 again (and it's showing relative strength against SPX/NDX, etc. over last week or so), then going long above 1.80 may not be a horrible idea.
Ccutamu
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There is a H&S pattern on VIX premarket. I think I read on here one day that it means nothing on VIX. Can anyone confirm. No corresponding inverse H&S on SPY or QQQs so I think I know the answer but looking for confirmation.
Engine10
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AG
Finally - a terminal rate target prediction.
Charismatic Megafauna
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AG
30k: you got any ostk in the 50k account yet?
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