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Morning Brief: 2008 Flashback?

For those of you who are old enough to remember trading in 2008, you must be having flashbacks about now. That same warm fuzzy feeling must be consuming your soul as the market continues to plunge with no bottom in sight. January 2022 is off to the worst sell off since 2008, with the NDX down over 16%, and continue to drop another 1% in the pre-market. As I have been saying since Jan 1, this is just going to be another 2008 slaughter.

The Fed is poised to make remarks as their meeting looms on the 25/26th this week. Expectations are a rate hike maybe after Q1, but as inflation continues to spike, we could see an earlier than expected hike coming in. Not to mention, more than 3 rate hikes this year. I think if inflation doesn't start to come down or flatten after the rate hikes, we could be looking at 6-7 hikes by the end of 2022. In a market that is already seeing downward pressure, any earlier than expected hike or more hikes than 3 are going to lead to more panic selling , crashing the market 50% or more for the year.

The questions you must be asking yourself must be a lot. Why didn't I listen to these posts? Why didn't I hedge? Why didn't I sell and go to cash? Why didn't I just go short and make massive profits on options? Well the good news is that it isn't too late. There is always time to adjust . I don't see a positive Green Day for the market in the near future to be honest. Dip buyers don't seem to be around as there really isn't a dip to by as no support is forming after the 200 day moving average was crushed .

Current Trades:

SHORT SHORT SHORT everything. Best of luck out there. Try not to cry .

INSTAGRAM: day trading_traveler

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