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Bloody Morning

Posted on 9/11/24 at 9:58 am
Posted by Longhorn Actual
Member since Dec 2023
2897 posts
Posted on 9/11/24 at 9:58 am
That 50bps cut the market had priced in…

Wish-casting at its finest.

Core inflation read “higher than expected”…as per usual. Fire all those economists.
Posted by Rize
Spring Texas
Member since Sep 2011
18740 posts
Posted on 9/11/24 at 10:09 am to
I’m not even looking??.
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
94811 posts
Posted on 9/11/24 at 11:00 am to
I mean, S&P 500 down a little, but still currently above what it was all day on Friday.

Are you talking about a specific sector or a specific stock? What are we catastrophizing about?

(This market remains immune to bad news. While I can't explain it, I'm not going to talk it down, either.)
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
57977 posts
Posted on 9/11/24 at 11:13 am to
quote:

That 50bps cut the market had priced in…

Wish-casting at its finest.


Truth.

quote:

Core inflation read “higher than expected”…as per usual.


It was only Core MoM and that was an increase of only .1 (but the goal continues for it to be dropped), YoY remained unchanged at 3.2%.

The only cut that's ever been realistically on the table for September has been .25, regardless of what the market wants.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
57977 posts
Posted on 9/11/24 at 11:18 am to
quote:

(This market remains immune to bad news. While I can't explain it, I'm not going to talk it down, either.)


Deltaland mentioned something a while back and I think it's probably the closest thing I've seen to explaining this. His stance is that there are now so many people in the market trading and investing on their own (as well as through brokers) that what would once be considered a market downturn or correction becomes merely a bounce as that excess speculation effectively makes most anything only a temporary dip.
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
94811 posts
Posted on 9/11/24 at 12:13 pm to
...and S&P is up a point.

Posted by TigerDeBaiter
Member since Dec 2010
10670 posts
Posted on 9/11/24 at 12:42 pm to
Ahh, the ole rug and bounce. Swing failures are strong in the opposite direction. Bullish.
Posted by Rize
Spring Texas
Member since Sep 2011
18740 posts
Posted on 9/11/24 at 1:47 pm to
quote:

I mean, S&P 500 down a little, but still currently above what it was all day on Friday. Are you talking about a specific sector or a specific stock? What are we catastrophizing about? (This market remains immune to bad news. While I can't explain it, I'm not going to talk it down, either.)


All of it. Been paying attention too much to it lately.

Company has a 4 to 1 stock split in the am and it’s been bouncing up and down so trying not to look. Hopefully I will suprised on Friday but who knows.
Posted by DarthRebel
Tier Five is Alive
Member since Feb 2013
24999 posts
Posted on 9/11/24 at 1:56 pm to
I was down this morning, but green in the afternoon.

Almost erased all the September negatives, starting at the beginning of the month.
Posted by Longhorn Actual
Member since Dec 2023
2897 posts
Posted on 9/11/24 at 4:14 pm to
quote:

The only cut that's ever been realistically on the table for September has been .25, regardless of what the market wants.


Correct. And also my point.
Posted by Lgrnwd
Member since Jan 2018
8431 posts
Posted on 9/11/24 at 4:33 pm to
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