Hi Folks general stoney check in and I feel these next 2 days hold the key to the future of the market!
On the one hand we have a DOW that has been up something like seven days in a row should it turn up
today and finish modestly higher BULLISH set up for sure. Also we are holding here in the face of IRAN actually PROCESSING some fuel or this suspicious
" breakthrough " Russia is denying hearing the Iranians have made. Oil is at a precipice where it is about to FALL very hard. We are ENTERING earnings season tomorrow> psychologically then, it becomes a VERY important day. Fed minutes of course have to be released on such a day! so they will be read VERY closely. Should we get a good start to earnings season- Alcoa I presume and should the minutes indicate a propensity or willingness to lOWER rates in the near future and IF we finish slightly UP today... I know it's asking a lot but it's next LEG UP for us baby.
Should we put a first down day in today and follow that up with a good-sized one tomorrow based off the Fed saying inflation stuff... well that'/s going to run into MASSIVE SELLING to pay for taxes. Something I'm doing today. So there is this sell element in the market to pay tax bills & we have recently sopped up liquidity with a bunch of crappy IPO's (at a year 2000 rate) The market is at a DANGER POINT!> we are about to have LESS THAN DOUBLE digit EARNINGS! and what's going to happen then?. >Well stoney is old enough to have played this game before... AND as perverse as it sounds ByLo, strangely, the market will RACE AHEAD into the slowing earnings... Sort of an Thelma & Louise Ending-- off the cliff> so we are at a VERY IMPORTANT TRANSITIONAL POINT RIGHT NOW. Monitor your cash position and don't be lazy. We are most likely primed here folks for A LIFTOFF I believe.
~stoney
On the one hand we have a DOW that has been up something like seven days in a row should it turn up
today and finish modestly higher BULLISH set up for sure. Also we are holding here in the face of IRAN actually PROCESSING some fuel or this suspicious
" breakthrough " Russia is denying hearing the Iranians have made. Oil is at a precipice where it is about to FALL very hard. We are ENTERING earnings season tomorrow> psychologically then, it becomes a VERY important day. Fed minutes of course have to be released on such a day! so they will be read VERY closely. Should we get a good start to earnings season- Alcoa I presume and should the minutes indicate a propensity or willingness to lOWER rates in the near future and IF we finish slightly UP today... I know it's asking a lot but it's next LEG UP for us baby.
Should we put a first down day in today and follow that up with a good-sized one tomorrow based off the Fed saying inflation stuff... well that'/s going to run into MASSIVE SELLING to pay for taxes. Something I'm doing today. So there is this sell element in the market to pay tax bills & we have recently sopped up liquidity with a bunch of crappy IPO's (at a year 2000 rate) The market is at a DANGER POINT!> we are about to have LESS THAN DOUBLE digit EARNINGS! and what's going to happen then?. >Well stoney is old enough to have played this game before... AND as perverse as it sounds ByLo, strangely, the market will RACE AHEAD into the slowing earnings... Sort of an Thelma & Louise Ending-- off the cliff> so we are at a VERY IMPORTANT TRANSITIONAL POINT RIGHT NOW. Monitor your cash position and don't be lazy. We are most likely primed here folks for A LIFTOFF I believe.
~stoney
. I can sit in money market's for the rest of the year and still beat the S&P by 40% (assuming the S&P doesn't tank by the end of the year). 