I can’t believe any of us (especially me) wasted emotional energy anticipating Jerome Powell’s speech this morning. Here’s a summary of the entire thing:
Liquidity moves markets!Follow the money. Find the profits!
No big announcement. No new proclamations. Just the same tired garbage about how things are just swell, but let’s keep an eye on things, and if the economy shows the slightest bit of weakness, we’ll just “policy” our troubles away. Good God.
Anyway, thanks to China, I’m having a good day. One of my standout shorts is Hewlett Packard, which has finally completed a monster top pattern.
Looking at the history of this stock, I think the prospective downside potential is self-evident.
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