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VRA Alert: Buy NAIL. The J Powell Melt-Down. Buy the Dip.

Good Thursday morning. We are buying NAIL again. Alert: Enter a market order to buy NAIL (3 x Housing ETF). Last: $88 The J Powell Melt-Down   Yesterday we got the .25% “hawkish" rate cut, as expected, and then we watched as a ...

Posted On December 19, 20244 MIN Read
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Good Thursday morning. We are buying NAIL again.

Alert: Enter a market order to buy NAIL (3 x Housing ETF). Last: $88

The J Powell Melt-Down  

Yesterday we got the .25% “hawkish" rate cut, as expected, and then we watched as a room of financial journalists collectively scratched their heads trying to make sense of what Powell was saying. This was a disaster of a presser. Powell is close to losing the confidence of Wall Street. Frankly, he’s never regained it after whiffing on the worst inflation story in the US in 41 years. Powell and team also learned nothing from the 2018 “Christmas from Hell”, the first Christmas season collapse they brought on. illiquidity reigns a week before 12/25. 

There are two elements to J Powells press conference yesterday and the resulting melt-down, that matter most to us.

One; from a purely technical, market driven point of view, yesterday’s collapse in equites will serve as a “capitulation” of the weak internals that we’ve seen from late N...

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