Cobra's Market View

Online this is the most hated rally lol. It's been some weird price action the last few days with all those gap ups though. If we gap up again to hit the SPY trendline @ ~687 that would be something, maybe a good time to short.

apparently we don't need charts and all that nonsense anymore, it's literally don't fight the Fed and you're good.

Wonder how much longer CPI type inflation can last though with huge inventory gains and places like Target needing to do massive price cuts to get inventory clear? Interest rates are already showing their impact on the housing market too. I think they could still get up to 2.5% or so, but it should ...

Trades w 2 Cats wrote:C-SPAN Coverage of the speech starts at 11:15 Eastern

Thanks!

Any idea when that speech is tomorrow? Morning or afternoon? I can't find the time for some reason. Not sure why the news doesn't put the time in by default but they practically never do, and it's not on whitehouse.gov.

Wish nasdaq was small gap down. Looks like the killing fields for growth stocks.

Think it will try to exceed the already higher low or this down move might be invalidated today with a new higher high?

As long as GME is pumped, anything can happen, then will probably get blamed on Reddit like when they somehow lifted up 100s of stocks with insane volume in late Jan.

few hours ago Costco, the nation's second-largest retailer, announces that it's adopting a $16 minimum wage for its 180,000 workers next week. That tops Amazon's and Target's $15 minimum and Walmart's $11 minimum. Costco has been good with their employees and their pays were good as long as I remem...

Looking at the meme stocks that were 'pumped by WSB'(PLTR, BB, GME, AMC, NOK, SLV etc.), you'd think we were in the middle of a 7%+ down day on an index.

A good bit of those Robinhooders are also Wallstreetbetters now. Usually one or two guys that did the actual work end up getting a bunch of them in on it. Not quite a pump and dump operation or anything but I wouldn't doubt this GME BB etc business doesn't get some kind of legal reaction.

Boring day? I guess if you're not looking at the most shorted stocks. It's gamma and short squeeze season out there. Actually a little scary how frothy it is.

We probably fade on Powell's 10AM speech. But that daily 50MA being so close to the 61.8% retrace is such a pretty target.

I mean, today is also the day the Fed's primary dealers lost their liquidity requirements, so they can pretty much buy as much of practically anything they want, including stocks.

I would think the lows were temporarily reached because of the Fed's PDCF starting last night, but it doesn't get full no-liquidity-requirements power until the 26th, so maybe another test of the low before then.

LOL, while most couldn't sleep last night, Cobra oversleeps.

Feels like the market is about to make a move.

Real quiet today!

Banking stocks getting throttled here. GS down more than 3%

Al_Dente wrote:Fine, SPY made a new low
But IWM did not
Bears don’t like that one bit

Well IWM was leading down by almost 1% more too