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Bought more T shares under $25 and just sold them for $1,250 profit at $25.15.
Rinse and repeat ...
Rinsing and repeating: Just sold all T shares at $25.05. Logged $3,290 profit.
Going for another buy round of T and see what happens.
Just flipped my T shares for $1,080 profit.
Jumped back in and bought more T shares at a lower cost under $25. Thus far, buy below $25 ... sell at $25 and pennies, and this can go on all day long: rinse and repeat.
My gut hunch is that the PPT is going to give all the 401K folks a "warm - fuzzy" 4th of July holiday.
GAP DOWN IS ALSO POSSIBLE.... BE CAREFUL!!!
I'M HOLDING MY S POSITION.
Anything bought below $25 right now is a GOOD buy in my opinion for tomorrow and maybe next day. Buying - buying - buying!
Probably going to start accumulating some T before long for a little relief play tomorrow or the next day.
DON'T BE STUCK HOLDING T.... S GOING OVER $70 SOON!!!!!
Looking at the charts of 8 of the top 10 companies of TQQQ (AAPL, MSFT, AMZN, TSLA,GOOG, NVDA, PEP, COST), they each hint that they are ready either for a retrace ... or for a huge breakout above their ending prices on Friday.
I'm betting on a retrace ... very soon.
I wonder if they're right:
"The S&P 500 bottom-up target price. vs. closing price over the past 12 months.
J.P. Morgan strategist Marko Kolanovic indicated in a note to clients Friday that U.S. equities may climb as much as 7% next week as investors rebalance portfolios amid the end of the month, second quarter, and first half of the year.
“Next week’s rebalance is important since equity markets were down significantly over the past month, quarter and six-month time period,” Kolanovic said. "On top of that, the market is in an oversold condition, cash balances are at record levels, and recent market shorting activity reached levels not seen since 2008."
https://finance.yahoo.com/news/what-to-know-this-week-in-markets-june-27-184417186.html
Calendar of events for this upcoming week (further down in the article): https://finance.yahoo.com/news/what-to-know-this-week-in-markets-june-27-184417186.html
Going to be very interesting what they do with the DAQ Monday.
Doesn't look like PPT gave you a chance today. ... maybe monday?
Congratulations on the nice trade!
HEY Plunge Protection Team (PPT) ... give me some cheaper T shares tomorrow morning and I'll be glad to take them off your hands!
Exited all T shares at $25.01. Decent profit, but DAQ sure not doing what I thought it might do this afternoon.
Futures: RED - GREEN - RED - GREEN ...
Currently NASDAQ futures are up 31 points. There's HOPE for my long purchases! Now time to go back to bed. ZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.
Out of total insanity, I just bought a bunch of T shares at $24.40 average.
Something stirring in my bones think this may be near a short term bottom. We'll see ...
Hey thank you, same for you, very good move today... and Congratulations $TQQQ
Hope everyone had a relaxing weekend.
Jumped in this morning earlier at $23.65. Sold at $24.88
Hey, Thank You Too! $TQQQ
Thanks guys on your Powell and inflation input (and everything else!)
Hey me too… Making Money is great for all of us… Much Appreciated Congrats and Cheers!
I SWITCHED BACK IN SQQQ @ $62.70. AT LEAST I MADE A LITTLE BIT ON MY TQQQ HEDGE!
Had errands to do today so thought I had better sell early just in case. See Agoura did good second time around. Love it when folks make money!
Yep exactly haha hey thanks and good call on this play
RELOADED UNDER $22 FOR ANOTHER TRY....
.... SOLD FOR A NICE SCALP IN JUST A FEW MINUTES!
WILL WAIT TO RE-ENTER.
TRADE VOLATILITY!!!!!!
.
Chose $LABU yesterday out at 12%. The vaccine pump news this morning for 6 months babies helped over here. But LABD looking good now as vaccine news PFE Moderna fizzles out of gas. Options and shares $LABD
I SOLD TQQQ FOR A SMALL PROFIT... MARKET LOOKS HORRIBLE!!!!
Stopped down at the street corner last evening to visit my 4 wino buddies. Asked them what they thought about all this "inflation" chatter floating around.
Said one of them: "Do to supply chain issues, conquering inflation will most likely cost more to fix and the fix most likely will get delayed."
Hopefully Powel keeps the ecconomy vice politics in mind. It might be better on helping Dem to hit hard now with hopefully some results earlier, then lessor later making things better going into Nov election cycle -- just a thought. But I sure hope it's all about the inflation and ecconomy and not politics. I listen to Powel and he does seem well aware, this is "different", not clasic, unique, and complexed, thus cautious on impact and results. ... makes me more optimistic while still concerned.
So housing is leading indicator for resession (but not a stand alone indicator = no such animal): Housing starts tumbled 14.4% to a 13-month low in May to a seasonally adjusted annual rate of 1.549 million units, and permits for new construction fell 7% to 1.695 million. Something to watch.
I follow Aroraguy too!!!
I RARELY GO LONG BUT WITH MASSIVE OPEX TOMORROW I JUST CAN'T SEE THE PPT HOLDING BACK!!!!!! IT WILL BE INTERESTING ONE WAY OR THE OTHER!!!!
FUTURES ARE UP... FOR NOW!
Hey Thanks luckydude777 $TQQQ
Wow, interesting information Agoura Guy.
Yesterday's rally was after a 10% drop in the S & P (and Powell's actions of course,) I wonder if there's another quick 10% drop in the S & P 500 there will be another short term bounce.
A concern I have about that article is that neither person in the article mention the actions of the Federal Reserve, sounds to me like they are mad at the US Government about rules and regulations their corporations need to deal with.
By being this late to the game I think one of the things that republican Powell wanted to do is hurt the democrats' chances of winning the House and the Senate.
I PICKED UP SOME CHEAP TQQQ,. $2.9T WORTH OF QUADRUPAL WITCHING OPTIONS EXPIRY TOMORROW. I EXPECT INTERVENTION BY THE CLOSE TODAY OR TOMORROW.
WE WILL SEE WHAT HAPPENS....
Buying T under $22. We'll see ...
I think there's another component neither the Fed nor the Corporate community is giving much press about is "good old fashion GREED [Survival???]" causing a lot of the inflation.
Businesses hurt BAD during the two years of Covid lockdowns. NOW they are trying to make up for lost revenues to STAY in business, (many of them anyway).
I believe a huge reason for the current inflated fuel prices is also a result of people traveled so little during the 2 year lockdowns. Profits went way down. People are now "out of lockdown prison" this summer and they are making up for lost opportunity. Thus the petro energy industry is taking full advantage of it.
This is the year for "making money while you can. Another lockdown might be staring us in the face come next winter!" Or an earthquake ripping up a major city that needs trillions to put it back together. Or - or - or ...
I think your subsequent posts answered the question ... government policy.
But I'll address why we are not in an overheated economy by stating we are not at pre-pandemic economic levels. The unemployment numbers sound good but we have less employed then pre-pandemic. GDP is also not at pre-pandemic levels if you subtract the government component thus leaving private sector goods and services. It's easy for government to spend trillians and raise GDP and thus disguises true economic activity (a complaint I have of GDP.). Today you also have to consider world economy as no nation is independent-- every nation is interdependent on other nations. The world ecconomy simply can't be overheated with segments shutdown/locked down. Sortof ike removing a cars accelarator then saying you're at full speed at idle. Anyway, ecconomy is far from full capabilities so simply can't be overheated.
We got lied to!!!
I tucked away this news release from May 4, 2022 and just found it. I think you'll "see" how we got lied to with todays' (June 15, 2022) .75 rate increase. (Not that it matters all that much, I guess. All politicians lie and all Gubment employees lie when they are expected to for the parties' greater cause IMO):
May 4 Powell commentary
Fed Chairman Jerome Powell is trying to slow down the economy without putting it in recession.
While the Federal raised its key policy interest rate by one-half percentage point as expected Wednesday, to 0.75%-1%, central bank chief Jerome Powell lowered future rate expectations by effectively ruling out larger increases of three-quarters of a point.
Stocks and bonds rallied sharply in reaction, with major equity averages jumping around 3%. Treasury yields, which move inversely to prices, fell sharply, especially for shorter maturities which are most sensitive to expectations of future Fed moves. In particular, the two-year note fell 16.2 basis points, to 2.638%, while the benchmark 10-year fell 3.5 basis points to 2.992%. (A basis point is 1/100 of a percentage point.)
Spurring the rallies in equities and debt markets was Powell’s comment that a 75-basis-point hike in its federal funds rate target wasn’t under active consideration. After some central bank officials had broached the idea of a bigger boost, markets had priced in a possibility of such a move at the next month’s meeting of the Federal Open Market Committee.
Now the fed funds futures market is pricing in 50-basis-point increases at each of the next three confabs, June 14-15, July 26-27, and Sept. 20-21. That would bring the Fed’s target range up to 2.25%-2.50%.
“Fifty is the new 25,” observes Vincent Reinhart, chief economist for Dreyfus and Mellon Bank and former economist and secretary at the FOMC. Until now, the Fed has moved only in quarter-point increments but Powell made clear that half-point moves were likely as it attempts to move monetary closer to neutral, a stance that neither stimulates nor slows the economy.
That was exactly what markets had been expecting, in keeping with the Powell Fed’s strong desire to avoid surprises, Reinhart added in a telephone interview. Also as anticipated, the FOMC announced the beginning of the reduction of the central bank’s massive balance sheet of nearly $9 trillion, which more than doubled in size since the initiation of its emergency policies during the pandemic-related emergency in March 2020.
The run-off in the Fed’s holdings will begin June 1, ramping up to $75 billion in monthly reductions by September. Reinhart calls the reduction in the Fed’s assets a sideshow as they will be gradually brought down to come to closer to the central bank’s key liabilities, bank reserves.
While the Fed has barely begun its normalization of policy–with only a 75-basis-point total increase in two steps from its near-zero level just a couple of months ago—Powell repeatedly referred to a tightening in overall financial conditions. That takes in bond yields and credit spreads, mortgage rates, and equity prices, which have all adjusted to the expectation of significant further central bank hikes. (He didn’t mention another factor, the strength of the dollar, which is the Treasury’s purview and not the Fed’s.)
Reinhart noted it wasn’t an accident Powell pointed to the two-year Treasury yield, which he said has risen all the way from just 0.20% to 2.80% (and coincidentally fell back to 2.65% as he spoke) as indication of the market’s anticipation of future Fed moves.
Powell also took the unusual step at the beginning of his presser to address the American people, essentially to reassure them that he feels their pain, Reinhart says. “He knows he has a problem” with the surge in inflation that has become Americans’ No. 1 concern. At the same time, the Fed chief wanted to reassure the public that policy would move toward neutral “expeditiously” albeit not immediately.
Reinhart also sees Powell wanting to avoid becoming the “anti-Volcker,” a reference to former Fed Chairman Paul Volcker who famously slayed the double-digit inflation of the 1970s with draconian interest rate increases.
At the same time, Powell “is not a single-minded inflation fighter,” he added. Powell emphasized the strength of the labor market, mentioning more than once the March job openings and labor turnover (JOLTS) data released Tuesday, which showed 1.94 job openings for every unemployed person. But there are a lot of plausible paths to recession, and if we see three monthly increases in this data, that would signal a slowing of labor demand and signal recession, Reinhart said.
In sum, markets emitted a sigh of relief that the Fed isn’t planning bigger rate hikes at coming meetings. At the same time, Powell emphasized much of the tightening of financial conditions needed to slow inflation has already been effected by the markets. In all, it adds up to a dovish tightening.
Sidebar: I love Agoura Guy's commentary on the SQQQ board about today's action and the PPT. I speak of it because had Powell raised the interest rate up 5.75 basis points this afternoon instead of just .75 bp ... 'betcha the PPT would STILL have jacked up the Nasdaq after the news got released. The PPT keeps things "interesting" I think. All IMO of course.
Here's my take on inflation. Bezos and Musk AGREE with me!:
Musk and Bezos Agree on Who Is Responsible for Inflation
Excerpts below from this article currently found (06-15) on The Street.com. (I've taken the liberty to bold certain portions of it). [Article won't let me link to it": https://www.thestreet.com/technology/musk-and-bezos-agree-on-who-is-responsible-for-inflation%22
The two richest men in the world appear to have teamed up against a common adversary.
It's rare to see Elon Musk and Jeff Bezos agree on things.
The former is the richest man in the world with an estimated fortune of $209 billion as of June 14, according to Bloomberg Billionaire Index.
The second is the second richest man on the planet. His fortune is estimated at $126 billion.
"Bezos criticized the Biden administration as the president sought to take credit for deficit reduction. The former Amazon boss couldn't swallow this and pointed out that Democrats were trying to pump more stimulus into the economy as prices soared.
"In fact, the administration tried hard to inject even MORE stimulus into an already over-heated, inflationary economy and only Manchin saved them from themselves. Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country," Bezos wrote on May 15.
The Government Is the Problem
Bezos doesn't seem to want to stop anymore. He seems to like this new Biden opponent suit that Musk also likes to wear. While consumers are still faced with inflation at its highest for more than 40 years, the two billionaires have just identified a culprit.
For Musk and Bezos, it was the stimulus to help consumers at the time of the pandemic that caused the inflation. Basically, the responsible culprit for the surge of your recent grocery store receipts is the federal government.
"Look, a squirrel! This is the White House’s statement about my recent tweets. They understandably want to muddy the topic," Bezos attacked on May 16. "They know inflation hurts the neediest the most. But unions aren’t causing inflation and neither are wealthy people."
"Remember the Administration tried their best to add another $3.5 TRILLION to federal spending. They failed, but if they had succeeded, inflation would be even higher than it is today, and inflation today is at a 40 year high."
Well ... you have my KEEN interest! Would you care to share your thoughts on WHY you feel we are NOT dealing with an overheated economy ... and what are the REAL cause/s of inflation, sir?
I agree. And it would be quite devastating to world ecconomy. One china is interesting (as is one korea) but the question is if that one china is the Repunlic of china (tiawan) or people's republic of china (PRC or china). Truth is that PRC wants entire region not just tiawan so tiawan just one part. But the chip and drugs would be smashed and why they are trying to get these back to USA ... not sure there is enough time for chips as takes a few years.
S are even shorter than T so have to be more carefull is all. But probably a good bet that there is more pain ahead in market still.
I want to touch upon interest rates and inflation a bit. And IMO! There are many causes of inflation ...cost push ... wage push ... demand side ... supply side ... . but historically, these inflation causes are due to a overheated ecconomy, and hence, raising interest rates tightens the money supply and cools ecconomy and brings down inflation. To be clear, you have inflation, just at a low rate (desireable). If deflation actually occurs, you're probably entered a depression, but I digress. So, anyways, the important thing is not that there's iinflation but rather the specific cause of that inflation and then to deal with specific cause. I'll cut it short at this point and just say, if the causes are not due to an overheated ecconomy, and you treat it as if it is, without considering the true causes, you'll do more harm then good cause, well, the true causes still exist! And Yes, I do not think an overheated ecconomy is the cause!
Thanks. Blessings!
Happy to hear you got those S shares LD, wish I did.
I exited my T shares that I bought last week for a loss. Not liking the dark clouds building on the horizon for long plays.
Doing okay with my S shares, thank goodness.
FNGU - Bank of Montreal MicroSectors FANG Index 3X Leveraged - I'm watching that, I haven't traded it yet. It's a bunch cheaper but has less volume. https://finance.yahoo.com/quote/FNGU?p=FNGU&.tsrc=fin-srch
China could attack Taiwan in some manner this year, I'm seeing some financial analysts discussing that as a more serious possibility lately.
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