exactly.....all these traders wannabe said the feds is gonna do this or that. my question is do you have a game plan? if not, stop watching or reading the news....it does not help you except for some entertainment. that's what i was taught by my mentor. news is only for entertainment.
Right... I was looking at SOXL OXY if long reaction, or SPXU etc if bear reaction, which I traded. Like you say, having a PLAN ahead of time is essential. And sometimes it pays off What the fed actually says is zero fucks given. I'm a trader. Did 60+ RTs today, very net profitable. And I still have no clue as to what Powell or the fed said. All I care about is price action and making money.
I was up 6.5% and closed up 3%. Where's your PNL, OP? It's so easy to catch multinick BSers in these threads.
What the Federal Reserve raising interest rates is just the cherry on top of the sundae. That will just make a huge market crash that much worst. Price action today probably, just a reaction to other geopolitical events like the Ukraine on the brink of war, more than the Federal Reserve not raising interest rates.
Not sure about the cherry stuff. Fed has mis-managed this stuff for so long. A lot of the Wall Street analysts missed this too. They all thought economy would bounce back very quickly after the covid. But after the labor market stalled, they did not know what to do. Then they waited too long. Now inflation has gotten entrenched. Fed has to push some buttons. But I do not see any button will fix inflation problem any time soon. Stock market? It will continue to fade. I'll see into any major rally, particularly the high priced big large techs. Biden's anti-trust will control how much they can grow. Those lofty multiples won't hold.
Welp at least there is no Fed meeting in Feb for Elite traders to expose their lack of knowledge/experience while pontificating Powell this and that.
Oh yeah? Remember what happened on Jan 5th when the minutes of the Dec meeting were released? The NQ dropped 400 points that day. I remember, I was there. Here we go again...