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‘Enjoy!’ The Powell Put, Rates Vol. And Other Thoughts On Another Horrific Friday

"Come and play with us, Danny."

"Come and play with us, Danny."
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10 comments on “‘Enjoy!’ The Powell Put, Rates Vol. And Other Thoughts On Another Horrific Friday

  1. I am capitulated. I will keep some JnJ talc around for when I get a flat on my bike and need to dust the inner tube… I may still use it on the dog, who gets bully-bumps…

    What happened to Charley McElligott’s “Dial it to 11?” All his S&P pivots were met, and sold. Not bought. Oh well. At least now I know who he works for. Have a great Weekend, Mr H.

    • In his defense, I believe the article said that SPX has to CLOSE above 266.6 in order to cover from short to long.

    • This is the second time McElligott has declared a short squeeze shortly before a big plunge. Fool me twice, shame on me I suppose.

  2. Not only Charley but Gandalf must have been talking up his own book to jolt the S&P’s to his projected 3000by the end of 2018 that he prognosticated last December.

    • Ironically I could see Jerome being dovish next week and energy coming back, sparking a massive year end rally. Not 3000 mind you but enough to get us out of this slump.

    • Important for folks to remember that if the weatherman says it might rain tomorrow and it doesn’t end up raining, it doesn’t mean the weatherman was involved in a nefarious scheme to inflate the price of umbrellas.

      sometimes, people call for rallies and stocks don’t rally. other times, people call for selloffs and stocks rise.

      if you’re inclined to be cynical about Wall Street that’s certainly fine, but ask yourself this: how many popular financial blogs have been calling for a crash since 2009? and how many of those same blogs were talking up Bitcoin at $20,000? if you’re going to get mad at Wall Street for every tick they miss, don’t forget to throw a little shade at the doomsday blogs for being on the wrong side of the longest rally in history for nine years and also for being on the wrong side of one of the biggest burst bubbles in history (Bitcoin) this year.

      • For us retail-investor morons, I suppose the frustrating bit is interpreting many overlapping, frequently contradictory narratives. Milkshakes and strats and debt crises abound!

        P.S. thank you H. for the dire September warning about bond yields and equities. Prevented a bunch of loss here.

      • It helps to be a simple kind of man.

  3. The FED meeting will not change the course of liquidations, only the changing calendar will.

  4. Harvey Darrow Cotton

    So after a decade of quantitative easing and near zero interest rates, coupled with deficit spending, fiscal stimulus, tax cuts, and deregulation, bailouts -the market is on the verge of collapse again at 2.25% without another Fed intervention. At what point do we give up on the notion of America having a healthy, market-based, capitalist economy? I am asking for a Socialist friend.

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