She was WEF trained. Her first day on the job was more Trump-ish with energy and fracking. I wonder if her programming started to short out. Maybe WEF decided to pull her plug. This one is weird.

COP got a new 52WH today.

Chatter rumor, some of those Florida homes saved from Ian have burned down because their salt-water exposed Tesla's were parked in the garage and ignited. If true, that's a shame. I did hear it's an extra $10k to waterproof your Tesla. Green Energy economics.. TSLA $211.43 / -$10,70 / -4.82% 11:00amCST

Very nice day in the markets.

BOOM MFers.

I'm a WWR owner. Saw the posts from yesterday about U.S. Gov't picking winners and losers. Don't forget, if WWR gets left out, they're always a potential takeover target. All is not lost.

irish pete ag06 said:

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This is a bull flag on the macros right?

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Wrong

Not convinced it will stick to the downside.

Bear markets.

Green days turn red.

irish pete ag06 said:

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Bear markets.

Green days turn red.

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https://www.cnbc.com/2022/10/20/feds-harker-sees-lack-of-progress-on-inflation-expects-aggressive-rate-hikes-ahead.html

Quote:

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Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed.


"We are going to keep raising rates for a while," the central bank official said in remarks for a speech in New Jersey. "Given our frankly disappointing lack of progress on curtailing inflation, I expect we will be well above 4% by the end of the year."

The latter comment was in reference to the fed funds rate, which currently is targeted in a range between 3%-3.75%.

Markets widely expect the Fed to approve a fourth consecutive 0.75 percentage point interest rate hike in early November, followed by another in December. The expectation is that the Federal Open Market Committee, of which Harker is a nonvoting member this year, will then take rates a bit higher in 2023 before settling in a range around 4.5%-4.75%.

Harker indicated that those higher rates are likely to stay in place for an extended period.

"Sometime next year, we are going to stop hiking rates. At that point, I think we should hold at a restrictive rate for a while to let monetary policy do its work," he said. "It will take a while for the higher cost of capital to work its way through the economy. After that, if we have to, we can tighten further, based on the data."

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This didn't help and it hit right when the slide began.

Joe is NOT going to be pleased with those comments this close to midterms

topher06 said:

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Joe is NOT going to be pleased with those comments this close to midterms

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Isn't this the point where 30k says "this is overdone" and we start reverting to the mean?

As long as the fed continues to throw out increases, any increase is just temporary. Crazy to me that with all of our irresponsible spending in America, we are still somehow more responsible than the rest of the world.

I cut my massive TQQQ position for a 3% win. I'm refusing to let this go from green to red.

A win is a win, but I could have played this better... so much better.

I planned to sell calls, but couldn't make myself pull the trigger for some stupid ass reason. The last 3 days would have been perfect for that. 3 days in a row that I could have easily reduced my cost basis by like 5% a day.

I also had several opportunities on those pops to sell at least a portion for a 10%ish win. I had a target of 25 to sell half or more... It never got there.

I don't trust this market to hold it over night. I will look to re-enter as I believe we are long overdue a technical rally back up to the trend line sometime in Q4.

Charismatic Megafauna said:

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I just mean intraday. A ruthless $8 slide with no news (other than a fed governor saying the same stuff we already knew) seems overkill, just bears getting control and making a run for it

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I'm becoming increasingly convinced that the Fed guys are so continuously dropping these little nuggets about expected to keep rapidly raising rates because (like Bonfire mentioned) they know they can't actually keep the rate elevated for long. They're trying to get maximum shock impact from the little ammunition they have on rate raises.

ProgN said:

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irish pete ag06 said:

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Bear markets.

Green days turn red.

---

https://www.cnbc.com/2022/10/20/feds-harker-sees-lack-of-progress-on-inflation-expects-aggressive-rate-hikes-ahead.html

Quote:

---

Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed.


"We are going to keep raising rates for a while," the central bank official said in remarks for a speech in New Jersey. "Given our frankly disappointing lack of progress on curtailing inflation, I expect we will be well above 4% by the end of the year."

The latter comment was in reference to the fed funds rate, which currently is targeted in a range between 3%-3.75%.

Markets widely expect the Fed to approve a fourth consecutive 0.75 percentage point interest rate hike in early November, followed by another in December. The expectation is that the Federal Open Market Committee, of which Harker is a nonvoting member this year, will then take rates a bit higher in 2023 before settling in a range around 4.5%-4.75%.

Harker indicated that those higher rates are likely to stay in place for an extended period.

"Sometime next year, we are going to stop hiking rates. At that point, I think we should hold at a restrictive rate for a while to let monetary policy do its work," he said. "It will take a while for the higher cost of capital to work its way through the economy. After that, if we have to, we can tighten further, based on the data."

---

This didn't help and it hit right when the slide began.

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Very scary.💞😂😂#Halloween pic.twitter.com/wC6kLYuXFK

— Figen... (@TheFigen_) October 20, 2022