ProgN said:

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FJ43 said:

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$30,000 Millionaire said:

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I am envious of you guys that got to trade today.

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X2

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I feel like Ricky Bobby these days watching y'all trade. Y'all in the fast lane.

I'll be back Cal. Shake & Bake

Can you expand on that?

wanderer said:

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Can you expand on that?

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Technical death cross. Typically signals the longer expected trend. Bearish if so. That's the 50 (blue) and 200 (red). Look back in time to the left at each time the 50 crosses the 200 to the downside.

Maybe we go up. Who knows but that convergence has me pretty eyes wide open.

Are you using MA and EMA on those combined? SPY had death cross mid March, and ripped. Death cross is a warning, but a lot of times the move has already happened as well, it is a lagging indicator.

LMCane said:

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Farmer @ Johnsongrass, TX said:

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Farmer @ Johnsongrass, TX said:

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Oil...$107.60

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$108.07

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at some point these WTI and Brent prices are going to stomp the US economy

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Nawh,...it won't stomp the US economy. ...... I want $10/gal gas at the pump. I figure it will take something this dramatic to have the real story told. It's not Big Oil's fault for high gas prices, it's the current Administration's failed policies. In this particular case, this Administration has blatantly set out to kill the petroleum industry from day one. People need to come to grips with what is really taking place and have the facts told to them.

Side Note: Regarding XOM, there's an old saying about not selling XOM if it's below the price of Brent Crude. I don't follow the correlation and never researched it, but the saying is out there.

Chairman’s plan to buy shares in $WWR #Graphite pic.twitter.com/QeN4IpB41A

— Big Mike’s Uranium Capital Management (@Big_U_Dawg) May 5, 2022

Let's see how much WWR stock insiders buy next week after blackout.

This is actually beating the S&P by over 30% for the year...#JimCramer pic.twitter.com/voUtV4uCDj

— Wall Street Silver (@WallStreetSilv) May 5, 2022

Powell Was Dovish Compared to Expectations...Will It Hold..Jury Is Out

Powell said three things yesterday that were clearly more dovish than the bearish consensus... 1) HE TOOK 75 OFF THE TABLE...2) HE STARTED QT LATER AND GRADUALLY and 3) HE SAID THE NEUTRAL RATE WAS BETWEEN 2 AND 3%... This caused a massive bull steepening rally where 2/10 hit 30 at one point... Now back to 28... And set up one of the strongest closing rallies in equities since 2020... Question one has to ask now is will it hold? Overnight it has given back a small part of those gains... Treasuries are marginally flatter but the gains in the short end are holding for now... Equities have given back about 20% of the gains of yesterday...

Looking forward... Is Powell correct?... He still seems to think that inflation is transitory and will reverse... But his clear challenge is to work to slow down the demand side of the employment market... Where he is clearly bothered by the jolts data showing 1.95 jobs for everyone out of work... We find it tough for the markets to believe that he can bring that down these numbers significantly without sending the economy into a mini-recession, but for now that is what he believes...

What should we see today?... We think the ranges will be muted today, but there is an underlying belief among big macro players that rates will still go to much higher yields... Shorts continue to withstand the minor moves in the long end and will stay with their trades until stopped out or reaching an objective of 10 years above 3.20%.

Fed... We were somewhat surprised that the consensus yesterday was 10-0... We thought Bullard would dissent... Fed speeches start up again tomorrow with 6 speakers... Two of which are college commencement speeches, but Williams, Kashkari, Bullard and Waller will be talking about the economy... Should be interesting....

Overnight Chinese Numbers were NOT RECESSIONARY BUT LOOK LIKE A DEPRESSION...PMI came out at 37.2 for the composite and 36.2 for services... Not surprising when you lock down half your country... But those numbers will continue to slow the global economy and add to the supply chain inflation woes....

The markets were reassured that the Fed will not panic into an erratic, less predictable pace of tightening... Even though the likes of DB still think Fed funds at 5 to 6%, Powell does not see it that way.. And the slow ramp up of QT, shows that the Fed indicated caution in terms of getting the market comfortable with it before ramping it up in September.

The Fed can change its balance sheet, but not the balance sheet of all the businesses that took on cheap covid debt that is only getting more expensive. I still think we get a melt up from early shorts/hedges before rug gets pulled out from under the "soft landing". The debt ridden zombies have to go at some point, the only question is when the historic ch11 wave will hit...22,23,24

Set an alert for Cramer celebrating a "soft landing", that's probably when things crumble.

911, I'd like to report a murder.... SHOP.

Dumbest administration ever

*BIDEN ADMIN WILL SEEK TO BUY 60M BARRELS OF CRUDE OIL: CNN

— *Walter Bloomberg (@DeItaone) May 5, 2022

https://www.cnn.com/2022/05/05/energy/spr-biden/index.html

You seriously can't even make this **** up