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The pullback overnight gives bears some hopes: If the coming breakout isn't decisive enough then a reversal would become possible. Small gap down, so possible range day today.
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Looking at $BPxx, bulls will be more worried than bears atm. couple weeks ago I said put this chart on top of your watch list because this could mean a lot of saving if not shorting out right
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Last edited by BullBear52x on Thu Feb 25, 2021 10:30 am, edited 1 time in total.
My comments are for entertainment/educational purpose only. NOT a trade advice.
If the recent pullback is all about the yield (which I think is just an excuse, the market goes too far, now every beginners are experts, making money is soooo easy, the questions asked to me were all about very speculative stocks), then today should be down?
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Cobra wrote:If the recent pullback is all about the yield (which I think is just an excuse, the market goes too far, now every beginners are experts, making money is soooo easy, the questions asked to me were all about very speculative stocks), then today should be down?
You talk to new traders, it has been easy and it is true. but will see, the big house got another plan under their sleeves.
My comments are for entertainment/educational purpose only. NOT a trade advice.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Cobra wrote:If the recent pullback is all about the yield (which I think is just an excuse, the market goes too far, now every beginners are experts, making money is soooo easy, the questions asked to me were all about very speculative stocks), then today should be down?
You talk to new traders, it has been easy and it is true. but will see, the big house got another plan under their sleeves.
The thing scares me the most is: Despite the QE is still ongoing, yet the yield is rising rapidly. Imagine what if there's no QE? We cannot QE forever, cannot we? (Actually I believe QE will be a new normal, the new generation would never know, what? The interest rate can be above zero? Wow that must be terrible terrible...)
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QE in some sense is treating everybody as an idiot: You must lend money to me and I'll give you no interest (in the future even charge you for lending money to me!) Eventually nobody buys government bond, Fed has to buy every penny of the government bond. So government issue bond, Fed buys all of them, this equals to government prints money out of thin air. My question is, why we need Fed, just let government print as much money as thy like. Let's eliminate the middle man!
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Cobra wrote:QE in some sense is treating everybody as an idiot: You must lend money to me and I'll give you no interest (in the future even charge you for lending money to me!) Eventually nobody buys government bond, Fed has to buy every penny of the government bond. So government issue bond, Fed buys all of them, this equals to government prints money out of thin air. My question is, why we need Fed, just let government print as much money as thy like. Let's eliminate the middle man!
MMT, the only thing will kill the MMT is inflation. so far if job market is low inflation is not the concern. but even if we got inflation, Fed can raise the interest rate to counter it like in the 80's. no problem there for Fed to control it. but the Joe six pack will not have much to show for, for us, rake in as much as we can now. then give back later, this is how the good rich people do. Haha
My comments are for entertainment/educational purpose only. NOT a trade advice.
Cobra wrote:QE in some sense is treating everybody as an idiot: You must lend money to me and I'll give you no interest (in the future even charge you for lending money to me!) Eventually nobody buys government bond, Fed has to buy every penny of the government bond. So government issue bond, Fed buys all of them, this equals to government prints money out of thin air. My question is, why we need Fed, just let government print as much money as thy like. Let's eliminate the middle man!
The breakdown could mean it's a downtrend day, be careful.
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