ADAM:
Solid recovery for #ES_F. 3820 was my big support today we saw the usual setup- quick dip below, recover & rally to 3845
Also important to note: Todays low at 3805 was the exact "measured move" target for the 3 week H&S pattern. 3883 next up now. If that clears, pullback is over
Bubble pricked, can BEARS take it lower? Maybe NOT
Started by
dTraderB
, Feb 21 2021 02:44 PM
146 replies to this topic
#52
dTraderB
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Posted 24 February 2021 - 06:32 AM
ES 3880 TO 3900 IS A STRONG RESISTANCE ZONE
ADAM:
3883 clipped! Big decision point here and back at the H&S neckline. 3900-3908 next small level above here but very bullish if it can recapture 3883
ADAM:
3883 clipped! Big decision point here and back at the H&S neckline. 3900-3908 next small level above here but very bullish if it can recapture 3883
#53
dTraderB
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Posted 24 February 2021 - 06:38 AM
"Jerome Powell just told Senator Kennedy that 26% growth in M2 does not mean anything. He said monetary aggregate growth doesnt seem to have any relationship to the economy anymore. He said we have to unlearn that!!! There ya go...he wont stop it. Seems risky to me."
Tom McClellan (@McClellanOsc) tweeted at 2:03 pm on Tue, Feb 23, 2021:
Perhaps Chairman Powell should read this article, "Understanding M2 and Stocks": https://t.co/wtnXMLM7ZThttps://t.co/FUIcTTlbMe
(https://twitter.com/...7752534017?s=03)
Tom McClellan (@McClellanOsc) tweeted at 2:03 pm on Tue, Feb 23, 2021:
Perhaps Chairman Powell should read this article, "Understanding M2 and Stocks": https://t.co/wtnXMLM7ZThttps://t.co/FUIcTTlbMe
(https://twitter.com/...7752534017?s=03)
#54
dTraderB
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Posted 24 February 2021 - 06:40 AM
Brian Wesbury (@wesbury) tweeted at 0:52 pm on Tue, Feb 23, 2021:
1) Powell saying we have to unlearn Milton Friedmans contribution to economics is a massive mistake. The Fed doesnt understand the difference between 2008 and 2020. In 2008, the Fed started Quantitative Easing and boosted the monetary base massively.
2) But at the same time the Fed hammered banks with regulations, higher capital requirements, stress tests, etc. This meant that banks growth was impeded and the M2 measure of money only grew about 6% per year between 2008 and 2019.
3) In 2020, the federal government paid banks to lend out the new round of QE and handed the money directly to individuals. As a result, the M2 measure of money is up 26% in the past year.
IT IS DIFFERENT. Friedman is/was not wrong. That Powell cant see that, is worrisome.
(https://twitter.com/...4664265732?s=03)
1) Powell saying we have to unlearn Milton Friedmans contribution to economics is a massive mistake. The Fed doesnt understand the difference between 2008 and 2020. In 2008, the Fed started Quantitative Easing and boosted the monetary base massively.
2) But at the same time the Fed hammered banks with regulations, higher capital requirements, stress tests, etc. This meant that banks growth was impeded and the M2 measure of money only grew about 6% per year between 2008 and 2019.
3) In 2020, the federal government paid banks to lend out the new round of QE and handed the money directly to individuals. As a result, the M2 measure of money is up 26% in the past year.
IT IS DIFFERENT. Friedman is/was not wrong. That Powell cant see that, is worrisome.
(https://twitter.com/...4664265732?s=03)
#55
dTraderB
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Posted 24 February 2021 - 08:58 AM
Will open new QQQ CALL position if down roday
#56
12SPX
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Posted 24 February 2021 - 09:05 AM
Can't believe interest rates wow and the markets way up here, interesting. Anyhow as the market went up I added to my short with a total now at 3874, profit stop 3870 for the cash open. I also resold the March 4000 call for $20, still holding the 4130 call and 3500 puts which are now showing a nice profit.
#57
12SPX
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Posted 24 February 2021 - 09:14 AM
Hmmmmm well that was quick out for a 4 point profit. I'll wait for the cash open get a better sell higher hopefully.
#58
dTraderB
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Posted 24 February 2021 - 09:32 AM
100 qqq 318.60
#59
12SPX
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Posted 24 February 2021 - 09:37 AM
Starting my short build again at 3874!
#60
dTraderB
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Posted 24 February 2021 - 09:38 AM
5 qqq may calls
Limit orders below to buy more calls, more qqq
Limit orders below to buy more calls, more qqq
