WE’RE ON YOUTUBE NOW! See HERE & HERE (Yeah … I’m REALLY excited about this).

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Before you Trade Today: Know the Economic Calendar! Also See This Weeks Most Anticipated Earnings. NEVER BE SURPRISED BY EASILY ANTICIPATED MARKET BREAKING NEWS. That’s our goal here.

PAID SUBSCRIBERS: My short play is red by 5.05%. They reported earnings yesterday (AH). NON-GAAP EPS was $0.11 when -$0.02 was expected (Matching the same quarter last year). Bad news for my short? All up until we consider the GAAP EPS. Their GAAP loss was -$0.45 per share. More details in the paid section of this newsletter. Of course we have all of yesterdays most anticipated earnings results & insider buys.

ECONOMIC NEWS: Well, I said on Monday the Market will rally after the Fed announced it’s rate hike. Now here comes GDP. There is NO WAY in my opinion that GDP for Q2 could possibly be positive. The housing market has plummeted (that’s a major driver of GDP), retail spending is increasing slower than the rate of inflation … if at all, discretionary inventories aren’t moving, & therefore, less factory orders (aside from defense spending), job growth is stagnant, & personal incomes are increasing slower than the rate of inflation. If there is a positive GDP cut today the numbers are just as shady as the inflation data. And speaking of inflation, the next inflation cut it 10 trading days away from today. (See Economic Calendar Above).

MAJOR LEGISLATION: The Chips Act was passed by the Senate Yesterday, & Senators Schumer & Manchin have come to an agreement on what amounts to a back door $369b infrastructure bill conveniently named “The Inflation Reduction Act,” … which will no doubt increase inflation, reduce company profit margins, & hasten the recession. I say this because it allocates billions to green energy initiatives (Sold as reducing the price of energy … of course it wont), raises taxes on corporations (Sold as paying for the bill), & the taxes thereof will reduce margins (which will be passed on to the consumer), and therefore, reduce the rate of hiring and/or lead to layoffs (Which will actually help inflation … but damn that’s cold). There’s one thing people need to understand about corporations. When you increase their taxes they charge more, invest less, borrow more, & hire less. Corporations therefore don’t pay taxes, their customers pay their taxes. And at a time when margins are getting tight as a result of inflation, this bill will make them tighter! Nevertheless, green energy companies pumped on yesterdays announcement (short covering).

WORLD MARKETS:

• Stock futures fall slightly after big Fed rally, Meta shares decline

• European markets muted as investors digest Fed decision, earnings

• Asia-Pacific markets are mostly higher after the Fed hikes rates

• U.S. Treasury yields rise after Fed decision

RECOMMENDED:

• Schumer-Manchin reconciliation bill has $369 billion to fight climate change — here are the details

• Market jump after Fed rate hike is a ‘trap,’ Morgan Stanley’s Mike Wilson warns investors

• IMF warns rising debt in Asia puts region at risk

• The CHIPS Act won’t solve the chip shortage

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