re: There are some major issues lurking in the US financial markets

Nobody liked the Homeward Rebound link?

Damnit... that was set up to be my post of the year.

Just here for the upvotes:
Page 16

quote:

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President Trump himself just jumped on the bandwagon and advised people to "buy the dip" (on Christmas Day, no less)

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Some new hints on this story from CNBC: " Trump administration asks top investor for advice on markets amid wild ride for stocks."

quote:

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A high-ranking Trump administration official reached out to at least one well known investor for advice on markets after a recent drubbing for stocks, sources told CNBC.

The call took place after a sell-off on Christmas Eve, the worst day of Dec. 24 trading ever.

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Carl Icahn would be my guess.

I kept getting confused from the lack of volume, but it was pretty funny once I watched the whole thing.

I know.

I just got lost in Reddit threads after following that link from LSUcam7 and had to share.

Anyway, in terms of short-term movements, I do think the Trump story is significant, because I don't think he would have gone out on a limb like that unless he had a plan to give the markets a nice bump. My best guess is that he will do something going into those U.S.-China trade talks the week of 1/7 - 1/11 that could easily lift the S&P 500 by over 100 points. I'm still very bearish on what happens after that wears off though.

I fell out of my beanbag chair when GE (Shadow) appeared.

Market fluctuations aside we have to keep our Comitas in check!

The game begins...

CNBC: " US Trade Rep. Lighthizer thinks more tariffs could be needed to get meaningful China concessions"

Look for comments going in the opposite direction either later today or tomorrow.

Then, Powell will give some remarks on Friday, and it's probable that he will try to walk back the tone of his "autopilot" remarks from December.

Then I think the markets take a big leg down. It may have started already today, but I think the rally might last a few days longer.

2525-2550 SPX is critical resistance to get through. My bet is one more leg down to re-test 2350 before a big rally back up to 2600-2650 area. Look out below after that (my SPX 1800 call this Spring).

Also, if you're interested in anecdotes from the rumor mill, I spoke with a hedge fund guy at a NYE party who seems sure that GE will go into Chapter 11 this year. GE opened 2017 with an adjusted price of $29.36/sh, but dropped to as low as $6.66/sh on 12/11/2018. It has since rallied to where it is now at $8.10/sh, but may not be out of the woods yet.

quote:

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“We had a little glitch in the stock market last month, but we’re still up about 30 percent from the time I got elected,” says Trump. “It’s going to go up once we settle trade issues and a couple of other things happen.” ( LINK)

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That's about as explicit as you can possibly get in the realm of "I'm going to do something with trade soon to make sure that the stock market receives a bounce."

Once it comes, then "sell the bounce."

Who is your serial downvoter? lmao definitely a long FANG in December