Just when I thought the Tamagotchi reaction function was invalidated by a hot CPI print, Yellen proved me wrong once again.
In a statement reminiscent of Marie Antoinette’s “Let them eat cake”, Yellen told the American people that the price of Eggs has come down so you plebs should be thankful for the great job that the government is doing to kill inflation! And a 10% annualized services inflation rate was implied to be a minor fluctuation and don’t you dare say otherwise or else …
PRICES OF GASOLINE, EGGS, CARS AND TRUCKS HAVE DECLINED
INFLATION OVERALL IS COMING BACK DOWN TO NORMAL LEVELS
ADDRESSING MARKET REACTION TO CPI DATA, SAYS IT'S A TREMENDOUS MISTAKE TO FOCUS ON MINOR FLUCTUATIONS
The amazing thing is, it didn’t take more than a 1% drop in the Nasdaq for Tamagotchi Yellen to come out and calm the markets. Thankfully, Nvidia was flat on the day, otherwise that would call for QE to restart.
She’s the best really, I feel guilt every time I doubt her.
After all, she is the Mother of Tamagotchis.
MAX STUPID - Greatest Hits
Continuing with the “MAX STUPID” Collection and today is also a good one.
Exhibit 1: NVIDIA CUBS
Nvidia filed its first ever 13-F, disclosing its stakes in listed US equities. The Nvidia Cubs ripped up in the pre-market on the news that God-like Nvidia favors them: RXRX +21%, NNOX +50%, SOUN +80% to name a few.
What’s absolutely ridiculous about this price action is that Nvidia held some of these stakes for a while now and the information was publicly available BEFORE the filing! So you could’ve made a fortune simply by buying stakes in the Nvidia Cubs and wait for the filing to drop.
This of course is mega-bullish because once again it proves that the monkeys are in control and easy money can be made for those who take the plunge and sacrifice their grey cells to think like a monkey.
Disclaimer:
This isn’t financial advice.
This is the trading blog of a shrub.
Don’t be Stupid
We have to rewrite the Bible. At the beginning there was Adam and Eve and Tamagotchi Yellen.
Re.:Max Stupid
Where does all the money/monkeys, which is daily lost in mass quantities on markets, come from, again and again...?