I have to say, I'm watching this market in amazement. It is saying recession is still here, or on the way, and the Fed will not be able to hike as much as they claim.
There has been an adjustment on what the street sees at the next FOMC gathering ...
Before Jobs Report
...but not much changed; 75bps instead of 50 bps in September, but still sees a rate cut next July
The market bounced early, and as those things go, it was too soon. I figured the ensuing pullback would trigger more selling and folks would simply head to the beach. But the market is moving higher again.
It doesn't have to close in the green to be a moral victory. Heck, anything less than a once percent loss would be a big win - but heads would explode at the Fed.
I love the short squeezes today - I did a segment on my show. It’s so hard to feature them to paid subscribers because of the risk/reward. But just musing out loud, I wouldn’t be surprised to see big moves in Big Lots (BIG), Groupon (GRPN) and Marathon Digital (MARA).
Have a great weekend.
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