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Overnight = premarket :) Although not as spectacular as yesterday, we still had a similar v-reversal as yesterday and it looks like we'll close up for the day. Anyway, Merry Christmas to y'all. You deserve it.

So watcha think? :sneaky:

Another bone of contention: Why would Powell focus on CORE, which excludes food and energy? Also below states that the "annual" rate is the preferred reading. Makes no sense. Core PCE prices in the US, which exclude food and energy, went up by 0.2% month-over-month in October of 2022, below...

Unless you're an ass (not you, of course), the number will likely come in higher than the consensus and the market will tank. Well, unless that has already been factored into today's selloff. Kinda no brainer, isn't it?

Damn I forgot about that. Why's the PCE announced so often? At any rate, the previous PCE is 0.7% and the consensus is 0.3% but we already know that consumers overspent on Black Friday and Cyber Monday, according to the following headlines alone. So you really think PCE will get revised down...

Yeah, yeah, I know that already. But leave the textbook definition out of the picture for now. The Federal Reserve is essentially given a mandate by the government. In another word, they're not completely free from those higher up in power, as we've seen with Trump's pressure on Powell. But the...

Yeah, but aren't Bureau of Labor Statistics and Federal Reserve BOTH part of federal government? Who then are we to listen?

Yeah, but the guy practically nailed the bottom when he made that call. So what's there to complain? The market did rally over 60 points from the bottom (or 50% fib level). If he could do that every day, I would personally hire him. :) Anyway, a new memo for tomorrow rolled in. Tomorrow will be...

This feels eerily like Flash Crash with the V reversal.

Short 32.50

Seriously, you expect to do your chart analysis and trade on a phone? It's no wonder you can't see things straight. Also what you've shown is just any ordinary breakout. There is NO CONTEXT. What is the breakout level based off of? Was there a similar level of resistance in the past?

You pretty much nailed it. Now I think you got out too soon. :D

If this is your way of apologizing, then I accept. :) Here's the link to that trade:

Now I feel stupid about getting out at 3830. LOL

Dude, tread carefully. When it falls this much, this ain't no trap. On the contrary, they trap the bulls, namely, they will pounce down on any bounce.

Just got back and what do I see? Damn, it really turned out that way. What is this, an armageddon? LOL

SL 3812 PT 3850 Time for me to laugh all the way to the bank. I'm heading out for 18 holes. Have a good one, y'all.

Out and flip long @ 3832 +81 (Hope I got the math all correct)

Damn it, I hate when it comes so close to my target and it reverses on me. Note to myself: patience.

If my memory serves me correct, just about everyone from 2008 era who was actively posting on this thread (when this place was buzzing) are gone, except me and @Spooz Top 2. Ain't sure if you were around in some other monicker. I kinda miss our resident permabear, @ammo. He and @SunTrader would...