OK, there’s a rally, but it’s not like the 2009 or 1974 bottoms.
The Fed scheduled $123 billion per day in Treasury and MBS purchases this week. That’s a month’s worth of old QE per day. What about unintended consequences?
OK, so I’m worried about the potential for hyperinflation. Meanwhile, here’s how today’s charts look. Going up?
Hyperinflation is coming.
The last few remaining shorts ran for cover on the Fed’s announcing that it was going Conehead this morning. But here are the only things that matter for traders today
We knew this was coming. The Fed has to finance the $2 trillion econonmic rescue borrowing. The market can’t do it. So the Fed must print the money to buy it.
This all in gamble better work. Because if it doesn’t…
Check this out.
I can’t even. And still, the stock market melts down.
We are so effin doomed.
Now that the US Government has delayed Tax Day for 3 months, the April tax windfall won’t happen. That cash fuels temporary Treasury debt paydowns which in turn fuel seasonal financial market rallies. Not this year.
It seems like the market wants to base out here. But I have a sense of foreboding when I look at the hourly chart. Maybe that’s bullish. I’m often my own best contrary indicator.
New York prices are gapping and reversing daily. It’s madness if you don’t stay up all night trading the fucutures. The dead bodies are floating to the surface.