MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Must’ve been a “melt-up” near the end today …

hank
edited January 2023 in Other Investing
Happened to be watching CNBC while working out at a gym between 3:00 and 3:45. S&P was in a tight trading range during that time - running just +0.8% - 1% higher for the day. But the close had it up 1.46% at 4076.6. Yikes - some fireworks the last 15-20 minutes one might guess. Looks like most everything did well. Crude and most metals saw slight gains - but equities were the place to be. One European consumers staples stock I own bounced 2%. Don’t know if that was typical of most of the continent. As @Sven noted elsewhere, the defensive consumers staples types have been back-sliding recently while the NASDAQ and riskier parts of the market have revved-up.

Other numbers: DOW +1.09%
NASDAQ +1.67%

FOMC meeting / statement tomorrow. I don’t think today’s sort of market action makes them very happy.

Comments

  • johnNjohnN
    edited January 2023
    Unemployment uptrends
    Inflation improved

    Uncle Powell likely 0.25% tomorrow and a other 0.25%?next few months

    Hard to say what will happen

    Market ran harshed/ melt up anticipated futures events past 3 4 wks

    Everyone of friends and their mamas/papa's cousins were shorting the past 2 3 wks and got burnt very badly... ***when the tide recedes we will know whom are swimming naked short***

    Not sure who is right, mburry short master say sale, Jim Cramer say we are in bull market...
  • CrashCrash
    I think +0.25% rate rise is baked-in. Was the ending on 31 Jan before the market-closing a reaction to yesterday's stinky poopy day?
  • hank
    edited January 2023
    Crash said:

    I think +0.25% rate rise is baked-in. Was the ending on 31 Jan before the market-closing a reaction to yesterday's stinky poopy day?

    I think the markets were (prematurely) celebrating tomorrow’s FOMC decision to raise the overnight lending rate by only .25%

    “Party hearty …”:)
  • Derf
    My 2 cents , let's make the monthly statements shine a little more !
    Enjoying the ride, Derf
  • CrashCrash
    +1. Plus, end-of-month bond fund dividends, too. And the ETFs, 1st of the month, expected...
  • johnNjohnN
    edited February 2023
    Last month webull trading +33%
    Extremely lucky

    Did not buy sale much
    Mostly holds
Sign In or Register to comment.