Good Wednesday afternoon ladies and gentlemen and welcome to Top Gun Options market SITREP. Mathew Buckley here, call sign Whiz. Quick reminder for our Top Gun members tomorrow after our weekly debrief at 10am we are also going to do a coaching debrief at 1300 hours. Viper trading and Tomcat charts. We have two instructors here, Goose, former Viper driver and Bart, certified chart instructor and Tomcat pilot. Voted by Barkley's as one of the five top Forex traders in the world!
These guys are available for one on one coaching now. Will give you the link tomorrow and it is being mailed out.
Went to Houston went to meets Dr. Demeroff and Barnhart of the Texas institute of psychedelic research. Went to their home, beautiful old home in Houston. Great event where we could brief folks on the lifesaving treatments with psychedelics for PTSD, anxiety, depression, and addiction. How the center is leading the charge for psychedelic treatments.
I brief a lot of folks on the No Fallen Heroes project.
Here in the market is the runup to the Fed announcement. Then the market slammed. Then the market bought. This is all bot trading here. It is not human. Hedge funds and others have bots that actually read the Fed release as it is published and place trades. Then humans get involved, think about what was actually said, and things turn around.
Why? The Fed announced a bigger, faster, and better QT, quantitative tapering. QE was literally printing trillions of dollars. QT is taking it back and getting rid of those trillions of dollars on the Fed balance sheet. And they are planning multiple 50 point rate hikes. Whoa. That is a big deal, but the market is saying what is known is know and is priced in. Meanwhile Jaime Diamond is bearish based on war, inflation, and covid.
Tech stocks are starting to sell off. Could be sector rotation. In a couple of weeks we get financial earnings. I am long the S&P 500.
Every time we moved through these moving averages I said it would take a break and move back through the 100-day. And it did. Remember that the market does not live between the moving averages. That is no man's land.
The market tends to violently move up or down to one or the other of these.
Why is the market sitting right here? This before was about war, inflation, etc. This is a very tactical market. I tell folks at these times it may be best to simply sit on your hands! Get some popcorn at watch it.
Trade the market that you have and not the market that you want. I love that over the last couple of days Elon Musk is talking about making Twitter less restrictive and that is making liberals and democrats froth at the mouth.
It is comical that before they wanted the company private and not regulated and now that Musk wants to make it less restrictive they want the government to regulate it. These folks want to shut you down if you do not agree with them. I am on Twitter account number 5. Why? I told the truth that they did not want to hear.
Every one of my conspiracy theories over the years have come to be true except one. Thank God Trump did not attack North Korea. We had more carriers and air power there than at the Battle of Midway. I knew those skippers. Said we were going. That was before Trump sent him a picture of the Korean leader in the crosshairs of our of drones! Instead of going to war and killing millions we will just kill you.
War crimes still going on in Ukraine. It is sad. Horrific. I pray that it will end quickly but that is likely not going to happen.
Funny think on You Tube. Says that Obama came back to White House because he was tired of working remotely.
I got a Lulu bear call spread that is beginning to come to life. It will be an interesting rest of the week. Got to get going, do some Yoga after a couple of days in Houston and some good Tex Mex. Going to head out. Have a great rest of your day. Make sure you hedge. Happy hunting. God bless, namaste. See you later.