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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (51449)	2/11/2022 1:25:17 AM
From: Lee Lichterman III	1 Recommendation Recommended By pak73 Read Replies (1) \| Respond to of 97668

Normally I might agree but sending checks to everyone when interest rates were already at zero and pushing for a doubling of minimum wage threw gasoline on a fire that was already starting. Yes, shipping induced shortages started some of this but stoking artificial additional demand just fanned the flames. Biden owns this chaos. The Fed is also to blame. Instead of raising rates, they need to drain liquidity by cutting their balance sheet and they need to do it hard, fast and yesterday. The market trying to rally this morning after the CPI release just demonstrated that liquidity is pushing the market up, bad news be damned. We probably would have had another 300 point up day if the Fed speach hadn't hit the market between the eyes with a 2x4. I bet by Monday, all will be forgotten and they'll try to ramp it again. They need to drain all this money sloshing around with nowhere else to go. Speaking of liquidity, LQD dropped below 124 today. Remember way back when when they said 124 was an important price level for it??