Welcome new and current subscribers,
Recap- Last week we issued a free-flow trading style with proprietary levels to keep everyone on the right side of the trade. If you tried shorting the “climactic top” above our levels, chances were high that you may have been incredibly frustrated.
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Where’d you go, I miss you so- Another week goes by and our mate was nowhere to be found. Turn with me to Psalms 27:14, “Wait for the Lord; be strong, and let your heart be courageous, wait for the Lord.” Jesus is by far the greatest example of patience on display. In fact, nowhere in the bible will you ever encounter an experience where Jesus was in a rush.
Why are we in such a hurry- As I am sitting here writing my substack, sat besides me is my dog Noodle who is patiently waiting for his morning treats. Funny enough, my guy would sit there for a little while, and if I ignore him long enough, he will transition to his stomach and eventually fall asleep. If we (who are imperfect) can give such great gifts to our pals, then how much greater is the gift that we will receive if we were to patiently wait on the Lord. Maybe instead of modeling ourselves after Jesus, we should first try to model ourselves after our dogs. IMHO, a dog is God’s perfect creation.
I bet you’re wondering- Did Noodle get his treats? Yes, of course he did.
Some action-packed scenarios- That may or may not happen…
If Jerome Powell increases the FFR from 4.5% to 4.75% on Wednesday, the market may find a reason to soften, and we expect a similar reaction to our meeting on December 14, 2022.
If Jerome Powell specifically says: “My covid was transitory”, the market may find a reason to rally.
Does any of this matter- Ultimately, no and probabilistically it is a fool’s game. Lucky for us, OrderFlow and tape reading allows one to dissect the internals. In our case, we were able to observe what’s inside this behemoth chopper, which we believe is now fully loaded and ready to deploy.
Flow Theo- Our model indicates that after a specific date, it may be in a Bull’s best interest to, “Get Down”.
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