In case you missed the weekly news letter, which was sent out this morning, I remain bullish, and bullish manipulation we witnessed over the weekend - on 60 Minutes - confirms what I've been seeing in the charts!
Look, they don't send the Treasury Secretary out on a Sunday shows, to shoot down any recession fears, if the deep state is planning to pull the rug out....
Treasury Secretary Janet Yellen on recession fears, inflation and the war in Ukraine cbsnews.com
Chairman Powell's comments on Wednesdays FOMC announcement should echo the same message.... In fact it really doesn't matter what Powell says, because nobody is going to want to increase their short positions, going into the holidays. What ever Powell says is going to bring more clarity, and the market likes clarity, and if you don't believe me, believe the $VIX.
Looking at Market Futures This Morning
First off, we're seeing another amazing Monday morning surprise, this time in Natural Gas, and anyone unlucky enough to be holding $KOLD (the 2X leveraged NG Bear) this morning, will find themselves down another 20% at the open!
looks like some kind of #shortsqueeze in #NatGas Natural Gas pic.twitter.com/Fv6390YCNB
— Veteran Market Timer (@3Xtraders) December 12, 2022
Of course, I'd like to short Natural Gas, but only a fool would rush into a trade like that!
Speaking of the Energy trade:
This morning I heard that the NASDAQ is adding an energy name to the index, and that would be none other than $FANG (Diamond Back Energy).
FANG in the news
The following six companies will be added to the Index: CoStar Group, Inc. (Nasdaq: CSGP), Rivian Automotive, Inc. (Nasdaq: RIVN), Warner Bros. Discovery, Inc. (Nasdaq: WBD), GlobalFoundries Inc. (Nasdaq: GFS), Baker Hughes Company (Nasdaq: BKR), and Diamondback Energy, Inc. (Nasdaq: FANG).
This will be the first time the NASDAQ has added an energy name... so watch for that one to be pumped to the moon in 2023.
Good luck in 2023,
AA
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