All socks are barnes, unless they're Daniel or bob knight's liver. Or the mcinnises

$30,000 Millionaire said:

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Interesting that gap holding so far

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Sweet model t though

Philip J Fry said:

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Anyone go into LTHM with me?

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Awesome call! Commons up 10% and my lotto calls 280%

Just takes one good trade, remember that!

zwhag2010 said:

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txaggie_08 said:

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No one mentioning WWR breaking $1?

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Let me know when it gets to $5 again.

From "pounding the table" to "needs to produce in 2023 or it will fail"

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I sold mongo too early. Oh well.

Watching this 3950 level closely. Rejected at it again. Same area of rally failure on Monday.

Looks to be pushing above it for now. C&H breakout with rally? Will see….

Quote:

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Latest estimate: 4.1 percent January 10, 2023

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 4.1 percent on January 10, up from 3.8 percent on January 5. After recent releases from the Institute for Supply Management, the US Bureau of Labor Statistics, and the US Census Bureau, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 3.2 percent and 5.8 percent, respectively, to 3.5 percent and 6.8 percent, respectively.

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https://www.atlantafed.org/cqer/research/gdpnow


I'd guess the narrative will eventually change,...no recession to a soft landing & slow growth.

Damn, should have gone in on ALLO too.

Philip J Fry said:

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Damn, should have gone in on ALLO too.

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The 8DEMA just crossing the 21 today.

Still feels early, today is the first day with volume.

Did McInnis blow up?

$30,000 Millionaire said:

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Did McInnis blow up?

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Haven't seen an M4 Benelli sighting of late either. Always appreciate his prose….

Ghosted us

Farmer @ Johnsongrass, TX said:

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Quote:

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Latest estimate: 4.1 percent January 10, 2023

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 4.1 percent on January 10, up from 3.8 percent on January 5. After recent releases from the Institute for Supply Management, the US Bureau of Labor Statistics, and the US Census Bureau, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 3.2 percent and 5.8 percent, respectively, to 3.5 percent and 6.8 percent, respectively.

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https://www.atlantafed.org/cqer/research/gdpnow


I'd guess the narrative will eventually change,...no recession to a soft landing & slow growth.

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It would be a bull**** narrative. 4.1% growth after surprising the economy under Covid and 8% inflation.

That is declining.

Hell yeah, brother. Have fun!

FJ43 said:

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Hope doesn't offend anyone.

Time to get serious. 1,000 yards.

Y'all have fun trading. My priorities have changed for the next 5 days.

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Man I'm jealous!

zwhag2010 said:

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txaggie_08 said:

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No one mentioning WWR breaking $1?

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Let me know when it gets to $5 again.

From "pounding the table" to "needs to produce in 2023 or it will fail"

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Interesting. Too busy at work lately and not on this thread much these days, but I guess I missed this one:

"needs to produce in 2023 or it will fail". I'll have to go dig them up sometime, but I thought I saw some recent optimistic OA tweets recently on WWR.

FJ43 said:

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CPI tomorrow. For me we are extended from the 5EMA. I added a bit to my Feb monthly SPY 380P. Will it work?

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Lol I did the same thing. You're a master. Hoping my analysis is correct.

Imo, markets have priced in a CPI that comes in below expectations because they've rallied significantly this week even with JPow and fed saying more rate hikes are needed and prolonged for quite some time. It better come in well below expectations or shorts will pound this market.

so everyone is short. i kinda want to go long

Picked up some 2/17 NKE $125 puts. At +3 ATR and over 70 RSI so it's in a good spot to pull back some...maybe.

ProgN said:

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Imo, markets have priced in a CPI that comes in below expectations because they've rallied significantly this week even with JPow and fed saying more rate hikes are needed and prolonged for quite some time. It better come in well below expectations or shorts will pound this market.

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Hope you're right. Plenty of headwind here with negative money supply now, etc.

The big question for me is the bonds….yields are dropping cause Fed gonna pivot or recession is imminent or both? If this CPI comes in cool, the popular thought is that it's gonna induce a big rally but it could just as easily be a bull trap. Bond market suggesting a Fed pivot coming soon. Will be interesting to watch for sure.

I guess im basically fading Tom Lee….which has been profitable this year to date. Lol

sts7049 said:

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so everyone is short. i kinda want to go long

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I wouldn't say everyone is short. In fact , P/C ratio yesterday was lowest in over a month. If the P/C ratio is contrarian (high P/C ratios usually induce a rally), then be careful here.

I see it both ways. Bull case and bear case are both clearly laid out at this point. Technically, there is a C&H pattern and it's taking off right into heavy resistance where we spent most of November. Bulls and bears can both make the case.

The inverted yield curve and bond markets have me tilted bearish but I see the flip side of the coin.

Guess we're gonna fill the 12/15 396.4 gap