TODAY’S WILD SWINGS

Powell telegraphs more moves on Friday. Just 2 days after fed meeting and presser, Powell again sees markets down and yells “we have tools!” That was Friday. Today, Dow opens up down 750 which means today, the maniac used the tools…not just buying up BOND ETFs but individual bonds. We cannot begin to tell you how maniacal this is but that’s for another day. Markets, as usual, reacted well. After selling off in the 3 pm hour, we got the obligatory “Powell Securities” rally into the close. (That was not sarcasm.)

We expect the market to gap up tomorrow off of this as everything held support on this recent 10% pullback in the Dow. Powell’s modus operandi continues to be…EVERY TIME MARKET GETS IN TROUBLE…EASIER AND EASIER MONEY…MORE AND MORE PRINTING. So far, he is having his way as every time market has corrected since XMAS 2018, he has made a move and every time, markets went up.

Just realize it is taking more and more and more and more and more and more to get markets moving his way. The amount of money printing here is depending on which abacus you use…in the “drum roll” a whopping $8 trillion. This does not include Europe who just went another 1.3 trillion euros as well as the rest of the central bank maniacs around the globe. But this guy here is taking the cake, throwing in the kitchen sink and everything else under the sun.

Enjoy! More than likely, he is again guaranteeing higher prices but we get closer and closer. We will be ready when it all ends.