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: towerdog who wrote (76306)	2/1/2023 4:31:22 PM
From: Lee Lichterman III	Read Replies (3) of 97649

I wish I had your cohones. Tranny index has been moving up so I have to respect the move up even if the FA is the opposite. Perfect example is META right now. EPS miss, guided down next quarter and trading up 20% after-hours. Seems to me we're repeating last year where the most worthless crap kept climbing, bad news was good news until they finally pulled the plug. I was just scrolling through my watch list and most stuff with real earnings and growth barely went up this afternoon. It was mostly crap stocks again with the exception of trannies. On the other hand, defensive sectors didn't move up so no sign the top is near yet. Crypto strong again. It's risk on baby, fundamentals and valuations be damned. I'm reading about how dovish the Fed was. I'm still not understanding. I didn't hear it that way. A long way to go, isn't a pivot. Wanting the labor market to ease when that is one of the most lagging things to weaken tells me they will likely keep going too far. I guess I'm stupid because the bond market appears to have heard dovish slant as well. I have some small long term stuff that I'll let ride and stick with what I have been doing. I just don't think I can buy and hold anything new here. I wonder if yesterday's 7 billion buy on close was someone that knew beforehand?

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