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POLITICO: Next week’s Category 5 economic storm.

Posted on 7/24/22 at 10:36 am
Posted by Hawkeye here
Member since Jul 2022
194 posts
Posted on 7/24/22 at 10:36 am
Politico

This week could be a highly volatile week with so much information hitting the market in a 5 day span.

Happening in the market this week.

Fed rate hike decision.
Consumer confidence numbers.
Inflation numbers.
GDP numbers.

Posted by slackster
Houston
Member since Mar 2009
91362 posts
Posted on 7/24/22 at 10:50 am to
Tack on the major earnings numbers and it will probably end the week flat.
Posted by Hawkeye here
Member since Jul 2022
194 posts
Posted on 7/24/22 at 10:56 am to
quote:

Tack on the major earnings numbers and it will probably end the week flat.


Yep, some big names reporting this week.

Won't be a week for the faint of heart.

Could see up 700 one day, down 700 the next for the entire week.
This post was edited on 7/24/22 at 10:58 am
Posted by rintintin
Life is Life
Member since Nov 2008
16978 posts
Posted on 7/24/22 at 11:26 am to
So buy straddles in preparation?

Posted by Lsut81
Member since Jun 2005
83737 posts
Posted on 7/24/22 at 5:49 pm to
quote:

So buy straddles in preparation?


Iraqi Dinar
Posted by SlidellCajun
Slidell la
Member since May 2019
16056 posts
Posted on 7/25/22 at 5:43 am to
Looking forward to the ride.
I’m hoping to find some good buying opportunities
Posted by Pezzo
Member since Aug 2020
2874 posts
Posted on 7/25/22 at 7:11 am to
curious to see what happens when this new currency is created

BRICS to create new global reserve currency (indiatimes.com)
Posted by notiger1997
Metairie
Member since May 2009
61331 posts
Posted on 7/25/22 at 9:30 am to
A big nothing burger
Posted by Auburn1968
NYC
Member since Mar 2019
25206 posts
Posted on 7/25/22 at 9:39 am to
I wish I had some dry powder.
Posted by TigerFanatic99
South Bend, Indiana
Member since Jan 2007
34878 posts
Posted on 7/25/22 at 9:50 am to
Good thing the administration already put out the memo that it doesn't matter what the Q2 numbers are, we are most definitely NOT in a recession.
Posted by Aubie Spr96
lolwut?
Member since Dec 2009
43983 posts
Posted on 7/25/22 at 10:51 am to
quote:

A big nothing burger


quote:

“The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” he said at the BRICS business forum.




Uh, this wouldn't be bad news if we were in good fiscal shape, but we're not. This is truly bad news for the powers that be in the US.
Posted by goofball
Member since Mar 2015
17344 posts
Posted on 7/25/22 at 12:55 pm to
They will change the definition of recession to shield the White House from the economic news.
Posted by slackster
Houston
Member since Mar 2009
91362 posts
Posted on 7/25/22 at 1:11 pm to
quote:

Uh, this wouldn't be bad news if we were in good fiscal shape, but we're not. This is truly bad news for the powers that be in the US.


The dollar has never been in more demand.
Posted by slackster
Houston
Member since Mar 2009
91362 posts
Posted on 7/25/22 at 1:18 pm to
quote:

They will change the definition of recession to shield the White House from the economic news.


They won’t change the definition as much as it won’t be an “official” recession until the NBER says it is. They didn’t call the 2008 (started in January 2008) recession until 12/1/2008, and they didn’t say it was over (June 2009) until 9/20/2010.
Posted by Aubie Spr96
lolwut?
Member since Dec 2009
43983 posts
Posted on 7/25/22 at 4:01 pm to
quote:

The dollar has never been in more demand.



Today, sure. But that's not what we are talking about. BRICS is talking about creating a new reserve currency out a of basket of existing currencies and transacting outside of the dollar.
Posted by Hawkeye here
Member since Jul 2022
194 posts
Posted on 7/25/22 at 4:07 pm to
quote:

Today, sure. But that's not what we are talking about. BRICS is talking about creating a new reserve currency out a of basket of existing currencies and transacting outside of the dollar.


Most people don't understand that the only thing propping up the dollar is the fact that it is the reserve currency, and the devastation to the dollar and the USA if it is no longer the world reserve currency.

These are the types of things that start World Wars.
Posted by Aubie Spr96
lolwut?
Member since Dec 2009
43983 posts
Posted on 7/25/22 at 4:59 pm to
quote:

These are the types of things that start World Wars.



Bingo.
Posted by TDFreak
Coast to Coast - L.A. to Chicago
Member since Dec 2009
9005 posts
Posted on 7/25/22 at 7:50 pm to
quote:

A big nothing burger
Bingo.
Why? Because everyone is watching the markets. Everyone is playing one side or the other. It balances out.

What I’d be on the lookout for is the week or two after this week.

I see a lot of options contracts expire the third week of August. I would expect something significant bracketing that week.
Posted by TigerDeBaiter
Member since Dec 2010
10671 posts
Posted on 7/25/22 at 8:34 pm to
This is why you don’t buy call options the week before this shite storm.
Posted by SlidellCajun
Slidell la
Member since May 2019
16056 posts
Posted on 7/25/22 at 8:42 pm to
quote:

Most people don't understand that the only thing propping up the dollar is the fact that it is the reserve currency, and the devastation to the dollar and the USA if it is no longer the world reserve currency


And why would it not be the world reserve currency?
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