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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: TigerPaw who wrote (71008)10/3/2022 11:25:15 PM
From: Lee Lichterman III2 Recommendations

Recommended By
ajtj99
towerdog

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Everyone is talking about nukes now and your post reminded me... They might be better now but in the old days, as recently as the 80s, Russian targeting was horrible. That's why they had such big nukes. Their ICBMs we're lucky to get within miles of what they were aiming at so they compensated by making big booms for large areas. We had better accuracy so we had more but smaller warheads. We could do precision strikes. We had a few big boomers for deep underground, well protected targets where we needed to move the mountain to get what was underneath but otherwise they were small.
One thing I forgot to mention today was in the PMI releases today, the purchasing managers cost of manufacturing was actually down nicely. Of course many of the other ones were under or on the edge of contraction so it could be a recession signal but it's still a promising sign.
JOLTs tomorrow morning is going to be important.
I carried a small long overnight. Not really by choice. My computer started lagging for some reason and I couldn't get my orders in ahead of the dropping price. So far futures are up so hopefully it holds and I can dump premarket. I'd be up nicely if it just stayed where it is now.
What worries me is skywatcher is already getting puffed up talking about a couple thousand more on the DOW and like it will go to new highs again just based on the 200 week average. That only holds in small recessions/dips but will bounce then slice through in bigger ones like 2008.
I wouldn't be surprised if we reversed back down at any time though I think the 3800-3860 area is possible. I'd love to see it higher but I won't hold my breath. The staples and UTEs selling off showed me that nothing is safe so I would like to get some nice profit on my low beta/high div stuff that is underwater and get to 95% cash before the next leg down.
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