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: ajtj99 who wrote (77540)	3/16/2023 12:53:29 AM
From: Lee Lichterman III	7 Recommendations Read Replies (2) of 98162

I don't think anyone has a clear picture of what kind or when a recession hits. It could be argued either way. It always looks great right before we go into one. Consumer debt is high, defaults/late payments are already showing up. Steepest inverted curve in decades, inflation for the first time in decades. Bubbles in everything and everywhere for the first time that I know of. None of the younger crowd has ever been truly tough times. They only know quick recessions with easy money thrown at them quickly. They think a crisis is someone using a wrong pronoun. Talking about inflation earlier. I've been looking for a car for someone and prices are nuts. Cars with 150k+ plus miles and they want double what a low mileage car went for a couple years ago. Rents around here are crazy high now too. Insurance costs are way up. I just finished running charts and breadth is horrible. RSP/SPX ratio is plummeting. Others showing the same. The major indexes are hiding more serious selling underneath. Problem is too many puts. Op ex Friday has a ton of puts below 3900 so they want to hold it up if possible. I looked at next month and there's already 100k puts below us at each strike now and we haven't even closed this month yet. Everyone is so sure Powell is going to blink but I really think he shouldn't repeat Burns'mistake. He said in his speeches he was willing to risk recession, job losses etc because inflation is number one priority. If he blinks, he'll have zero credibility.

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