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BlueTaze
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7:33a, 10/13/22
Hit Mancinis leg down target 3510. Feels like a great day for Wall St. to cover shorts with retail panic selling.
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La Bamba
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7:34a, 10/13/22
AG
Yikes
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topher06
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7:36a, 10/13/22
Do we even have an economy anymore?
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Txducker
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7:39a, 10/13/22
AG

At 8.2, worse than the market was expecting.
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irish pete ag06
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7:42a, 10/13/22
AG
I know 8.2 is bad, but is this a first move fake out potential?
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TexasStone
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7:43a, 10/13/22
BoydCrowder13
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7:43a, 10/13/22
I honestly am curious at when the number will drop below 8. We've been stuck in this range for like 6 months.
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$30,000 Millionaire
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7:44a, 10/13/22
AG
Lol
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$30,000 Millionaire
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7:45a, 10/13/22
AG
I don't think it mattered what the number was, they were going to sell.
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La Bamba
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7:45a, 10/13/22
AG
Headline is higher than expected and that's WITH the pullback in crude during September. Ouch...
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sts7049
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In reply to irish pete ag06 • 7:48a, 10/13/22
AG
it's a helluva fake out if so.
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BlueTaze
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7:48a, 10/13/22


I would expect some SPY short covering at open, but doubt it's enough to reclaim 3575.
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Philip J Fry
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7:49a, 10/13/22
AG
I'm not sure what they expect. It's a supply side problem and they are trying to fix it by making capital harder and more expensive to get. Clearly, the FED hasn't destroyed enough jobs yet to overcome the supply problem.
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LMCane
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7:50a, 10/13/22
US Core CPI Surges To 40 Year Highs; Food & Shelter Costs Soar

THURSDAY, OCT 13, 2022 - 08:38 AM

While the market's volatility this week has been focused on UK pension funds and budgets and systemic risk, this morning's US CPI print will likely determine the next leg from here with expectations for an acceleration in core inflation and small slowdown in headline growth of consumer prices.

Disappointingly, for the hopeful bulls, Headline and Core CPI printed hotter than expected.

Headline CPI rose 0.4% MoM (double expectations) and up 8.2% YoY (hotter than the +8.1% expected)
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Bob Knights Paper Hands
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7:52a, 10/13/22
Look at VIX while all the stocks tanked. Didn't move. What does that mean?
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sts7049
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In reply to topher06 • 7:54a, 10/13/22
AG
nobody wants to hear this, but we still do not have it nearly as bad as many countries.

try living in one with inflation 5-7% per month
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BlueTaze
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In reply to Bob Knights Paper Hands • 7:56a, 10/13/22
Bob Knights Liver said:
Look at VIX while all the stocks tanked. Didn't move. What does that mean?


VIX futures up 2.25%

Use /VXV22
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irish pete ag06
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In reply to Bob Knights Paper Hands • 7:59a, 10/13/22
AG
Bob Knights Liver said:
Look at VIX while all the stocks tanked. Didn't move. What does that mean?


Just my idiotic opinion here. VIX not spiking with no absolute limit down days suggests to me that while this is bloody, it's pretty much expected by the big players.

Uncertainty will be what drives VIX to 80 like COVID did. This seems like it's a less uncertain time even if it is brutal.
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$30,000 Millionaire
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7:59a, 10/13/22
AG
Jobs are the only lever remaining….
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Wannabud
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In reply to BlueTaze • 8:04a, 10/13/22
AG
BlueTaze said:
Bob Knights Liver said:
Look at VIX while all the stocks tanked. Didn't move. What does that mean?


VIX futures up 2.25%

Use /VXV22
Yep look at VIX futures. VIX will move at open and will be somewhat telling. 36 is the key point to look for a spike as its two standard deviations from the average level in the long-run. 34-36 has been a great time to buy all year. Only been above 36 once all year back in March with the Russia news.
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Spoony Love
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8:04a, 10/13/22
AG
I'm going to need Prog to bump his politics thread at some point regarding transitory inflation.

Prog?

Wow, he must have just bumped it while I was making this post. Nice!
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Charismatic Megafauna
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8:13a, 10/13/22
AG
I'm gonna buy the lower trendline touch at 340ish
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Red Pear Luke (BCS)
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8:19a, 10/13/22
Sponsor
AG
I'm thinking I'm gonna go have a nice old fashioned at the local pub and wait for this to all blow over.

Anyone care to join?
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gig em 02
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In reply to Farmer @ Johnsongrass, TX • 8:21a, 10/13/22
What's that rule about 6 down days in a row?
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$30,000 Millionaire
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8:21a, 10/13/22
AG
This will probably retrace some today, but I'm not in a hurry to knife catch. Market needs time to digest
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Txducker
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8:22a, 10/13/22
AG
I worry that true inflation numbers are worse than what's being reported and are economy is in worse shape than what they are letting us know. Even wall street missed and underestimated this month's cpi. The current administration has already tried to change the historical definition of recession and transitory inflation rhetoric last fall. My paranoia and TRUST issues with the government is not getting better and I worry about a much longer correction especially with the higher interest payments on the national debt. More sqqq and xom for me going forward.
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BaylorSpineGuy
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In reply to gig em 02 • 8:22a, 10/13/22
gig em 02 said:
What's that rule about 6 down days in a row?


When was last time? 2007-08?
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Chipotlemonger
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In reply to Red Pear Luke (BCS) • 8:23a, 10/13/22
AG
Red Pear BCS Luke said:
I'm thinking I'm gonna go have a nice old fashioned at the local pub and wait for this to all blow over.

Anyone care to join?




Direct imbed not working but you get the point
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$30,000 Millionaire
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8:23a, 10/13/22
AG
Don't confuse a retrace with a reversal! Rookie trader error #1
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GreasenUSA
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In reply to BaylorSpineGuy • 8:24a, 10/13/22
AG
BaylorSpineGuy said:
gig em 02 said:
What's that rule about 6 down days in a row?


When was last time? 2007-08?
for the S&P 500? last month.
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Heineken-Ashi
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In reply to Red Pear Luke (BCS) • 8:24a, 10/13/22
Red Pear BCS Luke said:
I'm thinking I'm gonna go have a nice old fashioned at the local pub and wait for this to all blow over.

Anyone care to join?


"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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$30,000 Millionaire
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8:25a, 10/13/22
AG
-3 ATR for SPX futures is 3430. The bands have also gotten steep in the downtrend. Recipe is ripe for some severe limit down day to mark some sort of interim bottom.
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BaylorSpineGuy
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In reply to GreasenUSA • 8:26a, 10/13/22
GreasenUSA said:
BaylorSpineGuy said:
gig em 02 said:
What's that rule about 6 down days in a row?


When was last time? 2007-08?
for the S&P 500? last month.


I meant 7! Sorry
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Bob Knights Paper Hands
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In reply to Red Pear Luke (BCS) • 8:29a, 10/13/22
Red Pear BCS Luke said:
I'm thinking I'm gonna go have a nice old fashioned at the local pub and wait for this to all blow over.

Anyone care to join?

After that CPI reaction to a 0.1 miss and still reported lower than last month, this may be the best trade idea today.
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Heineken-Ashi
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In reply to $30,000 Millionaire • 8:36a, 10/13/22
$30,000 Millionaire said:
-3 ATR for SPX futures is 3430. The bands have also gotten steep in the downtrend. Recipe is ripe for some severe limit down day to mark some sort of interim bottom.


I'm not a bottom ticker. But if I was I'd feel really good there for a small risk big reward type of bet. I could see a 200-400 point move encompassing the period between now and the next hike. All the while, CNBC would be telling us for the 3,400th time about peak inflation.

And just so I'm clear. I do not recommend timing a bottom. Nor do I think we are at a long term bottom. Follow the trends. When a trend becomes indecisive, cash out and wait for it to decide. Guessing is fun and can be lucrative, but can also be painful.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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