Thur Oct 6
Picking up TQQQ puts on a spec. All this pivot fixation is pure and simple mental **. The Fed has clearly said they are focusing on inflation. The world banks have lit a worldwide inflation fire. This could take years to sort out. Our Fed hasn’t even done anything of consequence in unwinding their balance sheet.
They doubled it to 8+ Trillion after Covid. There is no real QT while that mountain is sitting out there. There is now an $80 oil floor in my opinion. I am picking up long energy exposure whenever I come across attractive setups. I am nibbling on metals miners but nothing significant. The dollar and real rates have to top out. Watch TIPS.
Kicked out the PSQ covered write for a small loss. Should make max profit on CVX covered write assuming it stays above 146 by EOD tomorrow. If you are looking for a strong long-term play, CVX should be on your shortlist.
Good trading!
Comments
Floor for oil hold? Should the fed is seroius about qt, it will crush the world economy and oil should fall