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Jerome’s Comely Eye Sockets

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

I had the best day on Monday that I’ve had in a long, long time. Want to know my favorite part? It was the final hour of the day, when the Federal Reserve fell all over itself buying stocks (through its proxy, Blackrock) in order to give this farce another day. The NQ exploded 3% off its bottom for no reason other than Powell’s continued criminal act. Nice! I prefer a slow bleed.

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Mercifully, I sold all my IWM November puts early in the day. I still cheerfully hold my January 2021 XME and XLU puts, which are profitable but have a long ways to go. I have every intention of re-deploying my IWM proceeds into something longer-dated. With that scumbag Powell at the helm, I need to be sure to give my put options plenty of time.

The reason I’m relatively unfazed by what that shameless son of a bitch did today is because the technical damage is done. Chart after chart tells the same story: a clean price gap and a squeaky-clean reversal pattern. Hey, Jerome. Eat THIS.

Even more thrilled is the technical damage done against the banks, which the criminal Powell is supposed to protect, no matter how much the American people are made to suffer. The banks are, of course, co-conspirators with the Fed.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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