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lj: Jamie Dimond freaked out the market with his 7-percent inflation comment.
"Higher interest rates compete with insiders
trying to launder share positions to the
public to transfer money..."
Amen.
lj: 400+ points to the downside is not a train wreck. A better analogy would be an ATV in the creek.
The NASDAQ was down more on a percentage basis.
If by some miracle Matt Gaetz were to become Speaker of the House, then, imo, we'd see a very big selloff. My first choice for Speaker would be Rosendale of Montana. This is going to be another ship show.
lj: gasoline
"Gasoline prices wouldn't fall much when
oil prices dropped a lot..." That is true. They turtle walk prices down.
But it is counterintuitive to have oil at $90 and gas at $3.30 a gallon and below.
The oil company with the safest dividend is Vital Energy. (Sorry, I couldn't control myself!)
lj: You cannot get rich on the upticks in SQQQ, but it is worth a try.
lj: Which reminds me. You can get 87 octane for $3.33 around here. The disconnect between the oil price and the refined product might be a sign we are in a recession. Or, when oil was $68 a barrel, were the refiners gouging like crazy?
U would know better than this confused observer.
lj: NVDA can have very wild swings. Be careful. Agree 100 percent with your assessment of the NVDA-QQQ relationship.
I "discovered" 100 units of SQQ in my IRA, bought earlier this year. I'm down about 4 points.
Being a chicken, if there is a tech wreck, my big play might be selling SQQQ puts when I think the tech stocks have bottomed.
I'll buy an AI program to help me with the timing. Do U have Jamie Dimond's cell phone number?
lj: VTLE
Speaking of VTLE, I almost bought it in the first-hour of trading for a day trade.
Glad I passed.
It would have been a day fade.
lj: You'll get another chance. I missed a trade today in AMD. Should have bought it in the first hour of trading and sold in the afternoon. I'll try again tomorrow.
AI could result in you and I not being able to compete in the market.
https://www.dailymail.co.uk/news/article-12585261/JPMorgan-boss-Jamie-Dimon-says-AI-enable-3-5-day-workweek-reveals-technology-doing-equity-hedging-bank.html
lj: Since we are kindred spirits, I'm not going to bother to comment on this here.
https://www.dailymail.co.uk/news/article-12585261/JPMorgan-boss-Jamie-Dimon-says-AI-enable-3-5-day-workweek-reveals-technology-doing-equity-hedging-bank.html
Another AI nightmare. IMO, Jamie Dimond might be a first-class jackass.
https://www.dailymail.co.uk/news/article-12585261/JPMorgan-boss-Jamie-Dimon-says-AI-enable-3-5-day-workweek-reveals-technology-doing-equity-hedging-bank.html
Enable a 3 1/2 day workweek sure. But, believe me, employess on a 3 1/2 day work week will be paid 70 percent of what they would make working 5 days a week.
Does Dimond think people not in the 1 percent are stupid.
When half of the people in the U.S. are not working full-time, where is the Government going to get its tax revenue.
I suggest they start by seizing Dimond's wealth.
The AI horror stories are starting to come out:
https://www.dailymail.co.uk/news/article-12584079/Tom-Hanks-slams-fake-dental-plan-advert-uses-AI-version-warns-fans.html
Wait until there are 72K new IRS agents. Just wait.
al44: There needs to be a million person peaceful march on Washington as they did during the Viet Nam war. But wait. That cannot happen because, as a result of the Soviet-style imprisonment of the Jan. 6 people, we have become a nation of cowards. Sending money won't do a damn thing. They have won.
lj: U are preaching to the converted: "Denial of reality is more likely just
price propping to offload shares on
those adding new monthly buys..."
Could not find a trade for VLO this morning.
Bought Target (TGT) because it made a new 52-week low, though I didn't get the low.
It will be interesting to see whether their LGBQT debacle will affect Christmas sales.
Another huge problem for them is "shrinkage", to quote the jokesters in the media.
They will be closing 6? 7? stores and there will be writeoffs. Longer term, that might be a positive.
Tar jay is not really a store for lower-income areas. WMT has that covered.
I have this vision of TGT at $85 in a big October general market selloff.
So, until the budget mess resumes in November, at best, the market should go sideways.
AND, a drum roll please: [insert littlejohn's saying here]
If it moves up a little, I'll definitely sell a call.
lj: U are preaching to the converted: "Denial of reality is more likely just
price propping to offload shares on
those adding new monthly buys..."
Could not find a trade for VLO this morning.
Bought Target (TGT) because it made a new 52-week low, though I didn't get the low.
It will be interesting to see whether their LGBQT debacle will affect Christmas sales.
Another huge problem for them is "shrinkage", to quote the jokesters in the media.
They will be closing 6? 7? stores and there will be writeoffs. Longer term, that might be a positive.
Tar jay is not really a store for lower-income areas. WMT has that covered.
I have this vision of TGT at $85 in a big October general market selloff.
So, until the budget mess resumes in November, at best, the market should go sideways.
AND, a drum roll please: [insert littlejohn's saying here]
If it moves up a little, I'll definitely sell a call.
Trump drops the "F" bomb--BIG MISTAKE. This might ruin his reelection bid.
https://www.dailymail.co.uk/news/article-12578413/Donald-Trump-uses-word-motherf-r-slamming-Dems-indicting-California-GOP-convention.html
lj: Your mind is very sharp in the early morning hours. U can tell by my posts that I am running on fumes at that time.
Your post gives me a lot to think about. Very intriguing strategies you lay out. And, using GTC orders never occurred to me. I have been doing market order on all options contracts, believe it or not.
My first step in improving my options trading is to get out of bed before 9:30 a.m. I feed the dog at 8:00 a.m. then go back to bed--bad habit. And, I need to hit the hay before 4:00 a.m., even 5:00 a.m. Once I can stop that, I should be able to get my groove back on first-hour-of-trading purchases.
Film at 11. My plan for Monday is to purchase VLO on a downtick from the open, probably by 10:30 a.m., then go from there.
You snooze, you lose, comes to mind.
lj: I'm still with the MAGA coalition in the House. Balance the budget or shutdown the Government indefinitely.
The deficit will be close to $2T. There won't be any daycare when the currency is like Argentina's has been. This country could become another Venezuela. Guess who has been pouring thru the Darien Gap. Venezuelans, that is who.
Mothers won't have jobs. People will not be able to afford food.
The day of fiscal reckoning is coming. It might not be during this round, but the budget deficit has to be addressed or the U.S. financial system is DOOMED. DOOMED.
I don't think Federal employees should get back pay.
After all, they ARE the deep State.
Had they voted for Trump, the U.S. would be energy dominant and the budget would be balanced.
Sob stories fall on deaf ears of this MAGA supporter.
Oh, and by the way, how many Federal tax dollars are paying to educate the illegals and provide welfare. The Mexican border is open, yet we have sent billions and billions to the crooks in Ukraine.
You got me started, Vern.
lj: Speaking as a VLO shareholder, I regret to report that the price of gasoline had dropped a lot since I was there earlier in the week. About 20 cents a gallon, but, the drop was from a ridiculously high level. As a consumer, I am very pleased with the lower prices.
My sources tell me gas prices in coastal North Carolina are $3.25 a gallon.
lj: People laid off due to the shutdown will hurt the economy. Government contractors won't get back pay.
These are not the type of layoffs the Fed is trying to engineer.
And what a mess that UAW strike has become, egged on by the President.
lj: REI
I have put my shares on layaway. Will check on it one of these days!
lj: Good question, where will the big money go next? Health-care stocks again? Hard to say.
GEHC made a respectable move this week. Nothing spectacular, though.
lj: This afternoon I am headed to a high-income county. Will report back on 87 octane prices. They will be shocking.
lj: Definitely the big boys are pushing up the tech stocks to sell calls, imo.
IMO, this week's rise is a big head fake.
On a shoutout from MSFT, AMD went up to about $103, but has stalled out. If AI-related stocks were really hot, the news, which was AI related, of course, would have sent the stock flying.
And, I might be wrong, but I think the House Republicans are kicking the can down the road until it is time for trick or treat.
If they did their job properly, they would have enough data to impeach Biden on the border. Prove that he is allowing TB cases and criminals to enter illegally, and bye, bye Old White Joe.
Send them to The Hamptons and New Haven. That should do the trick.
The U.S. is on the verge of collapse.
And, oh, yeah. The A-rabs are going to launch a digital currency. See what that does to the U.S. dollar.
We are in BIG trouble, Vern.
littlejohn: Act. Secy. of Labor Julie Soo "is an old student Maoist, affiliated with the League of Revolutionary" struggle. The Senate wouldn't confirm her nomination, so the third Obama Administration left her in the job as an "Acting" Secretary.
I couldn't possibly comment, but some think Soo is working in the interests of the CCP to cripple the U.S. economy.
Just repeating what I heard.
We are in big trouble. No what I mean, Vern?
lj: Saw petrol in this area, 87 octane, for $3.34. To be honest, it creeps me out.
NYBob: A 90-year-old neighbor told me today that he just got a COVID-19 vax that, according to him, is not a booster. It allegedly protects against two strains of COVID and has some type of other COVID "protection" in it. It sounded crazy, but this man has extensive medical knowledge. What is going on? This is horrifying, imho.
This sociopath should have gotten 30 years with no parole. Had he groped Nancy on January 6, he would have gotten that, maybe more! https://www.yahoo.com/news/man-assaults-13-old-flight-180344419.html
NYBob: Sounds like Russian propaganda to me.
lj: "And bring oil price more in line with
pump prices set by refiners..." If anyone doubts refiners set prices, they should look at the price signs as they pass Valero stations. Travel 100 miles and all are the same. Travel from Delaware to Baltimore, and they are all the same.
That did not happen pre-Covid.
NVDA: October is ahead.
OT: I watched 5 minutes of the VP debate last night, and was that ever an "s" show. Later, I hear, the gal with the toothy grin viciously attacked my guy, Vivek, who was supporting his bouffant do, again.
Judas Pence, like the swamp creature he is, evaded the question of what he would do with the Dreamers. He spewed a lot of palaver.
Earth to Mike Pompeo, earth to Mike Pompeo, come in please.
lj: Switching topics, I am tempted to buy SQQQ today, but will pass. Unless there is a major tech selloff soon, the upside might be only $1 tomorrow.
lj: Well, the East Coast figures make me want to keep topping up my tanks! Good stuff.
Gmenfan: They are coming after us, pure and simple. The sicko judge's summary judgment in the N.Y. Trump fraud case is chilling. Conservatives should get out of New York. It is not safe for them there.
Dear Sir:
I have completed my reconnoiter, and have found gasoline in this area as low as $3.37 a gallon.
Apparently, they cannot give away the stuff.
I find this most shocking.
Bottom line: I might sell VLO $150 calls and hope it is called!
Gmenfan: It is Marxism pure and simple. They wouldn't do that in Russia today.
What is scary is that they will come after us next to seize our assets.
Remember, the sicko's in the Biden Administration proposed taxing UNREALIZED capital gains.
That is insanity.
The signs are there.
Think they want the 72K additional IRA positions to audit billionaires? I think now.
BE SCARED, BE VERY SCARED.
We are at a crossroads.
littlejohn: I noticed quite a few of the stocks I watch did the usual dip in the first hour of trading, but a little more extensively than usual.
lj: I am 100 percent pro shutdown. Forget the debt rating. What will the rating be in a few years when the U.S. defaults on its debt! Gaetz and his posse probably won't win the battle this time around, but he has fired the first shot across the bow.
lj: Haley has a BS from Clemson. She has blind ambition. She is a pit bull. Compare her education to Ramaswamy's or DeSantis' for that matter.
I don't like her, and Trump cannot lose the primary, even if he is locked up.
After Trump, my second choice is Mike Pompeo, who is staying in the background. He isn't running, but should, imo.
I don't want someone who can beat Biden, because he won't be the candidate.
I won't someone who will close the border, ship back nearly all illegals, and go after the cartels.
Uh, that might be DJT.
lj: Good post. Let me add that used Tesla's are piling up on used-car lots.
So, who would like to plunk down $80K on a Ford EV?
Before this strike, a couple of years ago, I predicted that this ESG-instigated push for Ford and GM to take the EV pledge would end badly. And, you have to wonder to what extent Blackrock has its hand in it.