Market crash

@BigGame90

 Looking at some of the numbers and revisions it seems likely some on the dot-plot, etc. would really want to hold it steady.

But I think he almost 'obligated' himself to a 'cut' instead of 'holding' at the last meeting, etc.

It will also be very interesting how he answers questions on the sticky inflation numbers and outlook.  

But I expect the market to jump around as he is asked the inevitable questions about what he expects from a Trump administration and their policies, etc.

@Raiders22

 I'm guessing we're going to hear "we'll track the data and go from there" and "we're looking to hit our target rate of 2% inflation". Will be nothing new and will sound like all the last times he's spoke. They'll review the data and make the best decisions based on the data. He'll say as little as possible and will give nothing of substance. 

@Raiders22

 SPY and QQQ fell off a cliff at the announcement. 

SPY ~605.5 down to 600.5 in minutes. 

@BigGame90

 PUTS came through 

Depending on what he says will take profit and switch to Calls 

@BigGame90

Took profit at +260% for QQQ and +338% for SPY

Switching over now

@Raiders22

 nice! I picked up some calls but it's still going down! arghhhh

@BigGame90

 Turning now 

@Raiders22

 Cut my loses at ~30%. Can just hear the hesitation from his voice and his uncertainty while he's trying to portray confidence. History repeats itself.

SPY at least 500 EOY (25') Or today at this rate. Wouldn't be surprised to see SPY around 400 end of 25'. We'll be seeing "It's Trumps fault" non stop.

@BigGame90

 I have got stopped out 3 times.

He cannot shut up soon enough.

I cannot get in a position.  Will wait until he leaves podium I guess.

@Raiders22

 ya it's brutal listening to this. So uncertain while trying to be confident which usually means he's full of shit. He's saying shit that people were calling out almost all year as if they couldn't see it all this time. It's the same shit as the jobs report month after month where it's been beating eXpEcTaTiOnS but then getting brought back down drastically when nobody is paying attention. He's telling people what they think people want to hear so there's no panic. They are reactionary and will always be behind. Money printer can't save them all the time.

@Raiders22

 Last question -- getting in one last time and loosening up stops.

@BigGame90

I always say that.  But have to make money off of it when you can. 

@Raiders22

 play- Free Falling

I got in with a few SPY 593P at .33 and out at 2.55. ~20minutes  Picked up some after that last post

edit' contracts just hit 4.50 and still ripping! Should have held a bit longer! 

@Raiders22

 Watched those 593P for SPY touch 10.5!  Definitely should have held longer! A bit tough to watch that.

@BigGame90

 NICE! Good for you!  

Was a great day for me.

Now will need a rally of sorts by Friday 

@BigGame90

Yep.  I should have considered it.

But like they say: "Nobody ever went broke taking profits." 

@Raiders22

 Wouldn't be surprised to see the rally back up, but what day would have the big gains? 

@BigGame90

I hope tomorrow -- so I do not NEED it to be Friday. 

Also, do not want stops triggered tomorrow.

Per Reuters, Amazon workers across the country plan to walk off the job at 6am because union officials state the retailer failed to come to the bargaining table. Teamsters represent 1% of Amazon's US workforce. 

Good for them. 

@Raiders22

10 SPY 600P exp. 1/31 @1.12 

@BigGame90

Good luck 

@BigGame90

 Reasoning?

I am just over here bouncing various things off of VWAP and riding some longer plays right now 

@Raiders22

 Last time BOJ raised rates there was a nice little flash crash in the US shortly after. Maybe this increase has already been "priced in" but sometimes history repeats itself. FOMC meeting and big day Wed for earnings. Maybe stocks only go up and the contracts go to 0 quickly?? Thinking either 10x or 0. Fully expecting earnings to mention "AI" and cause a huge rise so I'm just inversing myself. Also hitting all time highs today so playing a pull back for next week.