ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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To: Lee Lichterman III who wrote (64951)	7/11/2022 8:35:00 AM
From: Lee Lichterman III	4 Recommendations Read Replies (3) of 97962

It sure is quiet this morning. I'm going to take a WAG for this week just because... We have a HUGE number of shorts not believing this bounce, and for good reason but the market doesn't like everyone leaning the same way. Consensus seems to be that the CPI Thursday will come in hot. Kind of like when companies trade into earnings doing the buy the rumor, sell the news, I am thinking that unless the numbers are just unbelievably horrendous, that a little hot will get bought. News today is bad. I don't have signals on any indexes but did have sell signals on AAPL and MSFT Friday night so a little pullback and rebasing could help set up a strong end of week. We could muddle around a bit lower and suck in more shorts, maybe even flop around for a few days but then I'm thinking we could get a monster short squeeze after the CPI to shoot up over resistance for a headline news, lather up the permabulls weekend. This can swing the pendulum the other way, clear out some shorts, get the permabulls all in and primed for the Fed to bring the reality 2x4 to the forehead and resume the drop. Just a WAG. Insert usual awarding ponies, etc.

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