Podcast EP 120 Lie to Me in Davos (Jan 17, 2024)

$SPY $QQQ $IWM $ES_F $VIX $AAPL $AMZN $META $MSFT $NVDA $TSLA $TLT $TBT $BTC $ARKK $ARKB $FBTC $BTCO $IBIT $BRRR #SIMHacks #hacking

Jan 18, 2024

Transcript

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Show Notes

Summary of the day

How did we finish? Just like yesterday. Massive selloff impulse into last 10 min. This is controlled selling. You have been warned.

My lie detector is still working pretty good

How is breadth doing since 2pm? While mkts bounced, you could have known the true intentions.

On Tue apparently the selling was attributed to Fed head Chris Waller who dissapointed markets with projecting only 3 rate cuts vs 6. How juvenile. It is akin to children begging for sweets.

"This view is consistent with the FOMC's economic projections in December, in which the median projection was three 25-basis-point cuts in 2024".

This morning Lagarde (ECB) warned that market expectations weren’t helping policy makers in their fight against inflation.

“It is not helping our fight against inflation, if the anticipation is such that they are way too high compared with what’s likely to happen."

And inflation stopped going down, with what seemed to be an uptick. Keep in mind these are all phony govt numbers. So if their metrics show inflation is slightly reaccelerating, that means it is raging.