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PCE Report Melt Up?

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#1 blustar

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Posted 23 February 2023 - 04:40 PM

The SPX has made a highly irregular low on a 16+8 cycle low today. "y" of [y] of Y of {B} coming to the upside into the next Gann top 8/16 Monday. Target upper 4280's. I said BIG swings coming!  Z of {B} low March 6 3924/25 then up into March 13 top above 4325. PCE report is more important to FED than the CPI or PPI. All that negative talk yesterday got people all beared up so that can run the shorts tomorrow. My take fwiw...yes.gif

 

I'm long SPY 2/24 412.0 calls & SPY 2/27 410.0 callsyes.gif


Blessings,

 

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#2 redfoliage2

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Posted 23 February 2023 - 05:03 PM

 Tomorrow's PCE is likely to provide more fuel for the Fed rate hiking as MOM PCE likely going higher.   Tomorrow morning we will find out  if  the "Melt up" was based on fake news.........................


Edited by redfoliage2, 23 February 2023 - 05:11 PM.


#3 pdx5

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Posted 23 February 2023 - 05:10 PM

Kudos to all the brave investors willing to fight the FED.

There are old investors.
And there are brave investors.
But not many brave investors who lived to be old.

Edited by pdx5, 23 February 2023 - 05:12 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#4 skott

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Posted 23 February 2023 - 05:26 PM

The SPX has made a highly irregular low on a 16+8 cycle low today. "y" of [y] of Y of {B} coming to the upside into the next Gann top 8/16 Monday. Target upper 4280's. I said BIG swings coming!  Z of {B} low March 6 3924/25 then up into March 13 top above 4325. PCE report is more important to FED than the CPI or PPI. All that negative talk yesterday got people all beared up so that can run the shorts tomorrow. My take fwiw...yes.gif

 

I'm long SPY 2/24 412.0 calls & SPY 2/27 410.0 callsyes.gif

 

 

Glad to know you are long. You've been on fire lately headspin.gif



#5 skott

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Posted 23 February 2023 - 05:32 PM

 

 Tomorrow's PCE is likely to provide more fuel for the Fed rate hiking as MOM PCE likely going higher.   Tomorrow morning we will find out  if  the "Melt up" was based on fake news.........................

 

 

Agree. Fed is hiking, fed is telling they will def hike more. some want even more aggressive hikes. all agree will need sustained rate hikes. the market is so overvalued it's ridiculous. Does the housing market impact the stock market? anyone remember 2008?  will more houses be sold with ever higher prices AND higher mortgage rates? What happens when that implodes and the collateralized loans blow up with it?  securities are used as collateral, at banks, brokers, etc.  When those securities fall in value there is a problem for those holding the bag in using them as collateral..



#6 SteveB

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Posted 23 February 2023 - 08:10 PM

[quote name="pdx5" post="886772" timestamp="1677190245"]
Kudos to all the brave investors willing to fight the FED.

There are old investors.
And there are brave investors.
But not many brave investors who lived to be old.

So true! Brave investors usually flame out. Old investors are boring tortoises that eventually beat the rabbits.

Edited by SteveB, 23 February 2023 - 08:16 PM.


#7 SteveB

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Posted 23 February 2023 - 08:25 PM

Sorry, tried to respond and quote a previous post. My comments showed up in the quoted post. I guess the board software doesnt work well with iOS 😄. Next time Ill reply to posts after I get back in my desktop computer.

#8 pdx5

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Posted 23 February 2023 - 09:01 PM

No worries SteveB
I understood your first post perfectly
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#9 redfoliage2

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Posted 24 February 2023 - 08:33 AM

 

 Tomorrow's PCE is likely to provide more fuel for the Fed rate hiking as MOM PCE likely going higher.   Tomorrow morning we will find out  if  the "Melt up" was based on fake news.........................

 

Now it's about the time for a "melt down" ..............................



#10 12SPX

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Posted 24 February 2023 - 08:54 AM

 

The SPX has made a highly irregular low on a 16+8 cycle low today. "y" of [y] of Y of {B} coming to the upside into the next Gann top 8/16 Monday. Target upper 4280's. I said BIG swings coming!  Z of {B} low March 6 3924/25 then up into March 13 top above 4325. PCE report is more important to FED than the CPI or PPI. All that negative talk yesterday got people all beared up so that can run the shorts tomorrow. My take fwiw...yes.gif

 

I'm long SPY 2/24 412.0 calls & SPY 2/27 410.0 callsyes.gif

 

 

Glad to know you are long. You've been on fire lately headspin.gif

 

Really lol!!  What ever happened to the crash??







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