Last week we have a surprise from US PPI for being stronger than expected and that sent the stock market lower a bit. Next thing we know, people talking about all these bullshit that where the CPI should be this coming week. Seriously, 99.99% of people out there including that remaining 0.01% are pretty clueless what the CPI is let alone understanding how it is calculated and more importantly, manipulated by the government to do whatever they like the figure to be. That’s why it is so funny to look at people trash talking each other as if they are some expert of the subject …
So this week we have FOMC decision and CPI reporting. It will for sure swing the markets hard but it is hard to say which way it will go.
The most interesting change in tune is BoA’s Hartnett who changed his long standing position of the US stock market to go lower in Q1 next year to a new low to 180 degree flip to a run higher to as high as SPX 4400 before a fall in 2nd half of the year to a new low. As the most accurate analyst in year 2022, will he be right again in 2023?
Here is a video with Gareth Soloway on 2023 outlook. He made some good points and can help one to put things in perspective.
I know everybody has been quite bearish on BTC lately except those HODLR. Max Keiser presented his view on BTC in this video. He believes BTC is going much higher in 2023. Maybe he is right. I am just a trader and I do not have all these fundamental thoughts on BTC because I am not smart enough to understand why BTC is not scam. But can BTC gives us a tradable setup? Sure and I will stick with my charts only.
One important note on the video – the shoulder twitch the guy kept having whenever he has to make a bold statement about BTC. What does that imply? I will leave it to you guys.
Here is a great summary video of a collective of thoughts from several great minds on antifragility. If you are looking to improve your financial well being, this video a good reminder for you that you if you do not change yourself to overcome these biases, you will never be able to exponentially grow your wealth.
Back to do my chores. Have a great weekend all!
