We’llcum,
News:
Starbucks and Cisco getting downgrades no big news other than…
It’s CPI day and fear and paranoia are here. Pre market is flat at 0.01% which is a teaching lesson to everyone. The MMs, hedgies, and smart money took their positions for this already (that’s what being priced in means in terms of action by buying/selling).
I know inflation will be bad, so do you and everyone else. But I’ve given this analogy before and I’m giving it again. Prices in events are like a toddler getting a shot, all the kicking and screams comes before the shot and during the shot but after it’s just a lollipop and a bandaid and they are fine. CPI will be bad, market dumped as predicted yesterday because it will be bad, and today if the market bounces after CPI data is out don’t be shocked. Be ready for a delayed reaction to the data tho. Everyone is on shaky ground.
Watchlist:
FB, Zuck makes his first appearance on GMV. Metaverse is going to start accepting online transactions for things in the Metaverse. While some retards would find this to be a great business opportunity I see this as a great bounce puts buy opportunity. If meta bounces which as of now looks like it could, then I would not dismiss puts on it. Metaverse died before it even was alive it’s not becoming a thing anytime soon and we all know it.
SPY:
It’s doing nothing rn for reasons I said earlier. Don’t buy in before CPI imo. Even though I think after CPI will be bullish I like to be low risk here and just in case CPI is abhorrently bad don’t take the gamble. But after CPI if it’s as expected and spy hasn’t mooned just yet, then calls would look juicy. As for puts, those were for the last two days and I’d only get those if CPI was truly bad and things started going down afterwards.