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Afternoon Note

Feeling Better

By Charles Payne, CEO & Principal Analyst
1/20/2022 1:19 PM

I like this rally attempt better than the one we saw 24 hours ago, as it's more than a hunch or a shot in the dark. Earnings are better, bond yields are stabilizing, and the employment picture is muddled enough to perhaps suggest "full employment" is a way off, and that could buy the Fed time. 

On the other hand, Powell and Co would be squandering a chance to go as hard as they can (expected) and suggest a calmer path thereafter. 

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There is so much damage out there that 1 and 2% bounces might seem like a drop in the bucket, but you have to admit you are feeling better. 

We are not forcing the issue this afternoon.


Comments
Wow! You wrote your note @ 1:19 -- I was feeling better too -- but the trap door you talked about this morning opened @ ~2:00 and the markets fell like a rock. What happened?

Robert Bellows on 1/20/2022 5:35:31 PM
 

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