All eyes are once again on the CPI report, which has become the biggest market driver as of late. Inflation today is forecasted to show growth of 6.8% Y/Y in November, which is a level we haven't seen in over 4 decades, outpacing the growth in 1982. If the CPI report beats estimates, a bearish signal, the market is likely to sell off today. This indicator will likely forecast an earlier rate hike and a larger increase in scaling back tapering than expected. Wall Street still expects the rate hike to come in Q3 of next year. However, with inflation skyrocketing, the job report showing an increase in jobs, we could be seeing a rate hike as early as Q2.
The #VIX ripped yesterday , as the market turned south and hedging continued. This has been one of my most predictable plays as of late. In the pre-market it is down 3.52% , pricing in at 20.82. The VIX was up over ~30 , and I see room for a price bounce after the CPI report.
#TSLA is down another 1.19% pre-market, and has broken the ~1000 support level. This breaks the support level and I am seeing another support at ~920, but will continue to monitor. Hopefully we will see more volatility and larger price moves, so we can scalp some.
#MRNA continues to get slaughtered, and I don't see much support for it to regain much value. Omicron hasn't warranted any more vaccines and the Covid cash cow is about to come to an end. PFE seems to have more government support from the FDA, and its booster/vaccine will likely take the lead . I plan to continue to short with long puts and short/theta calls.
#GME got hammered yesterday and I will continue to add on short/theta calls for this week and next to gain some value. The question here is if WSB will hop on to ram GME back up on a large market short squeeze, as it has done before around this price point.
I will likely be traveling by the end of the year, so make sure to follow my travel blogs, Instagram, Discord to see the adventures while I trade.