CHAOS: Fed heads feud on interest rates

Remember that certainty we talked about yesterday?

The Fed tossed that right out the window.

Atlanta Federal Reserve President Raphael Bostic said that he was “firmly” in favor of 25-basis-point interest rate hikes – the dovish policy, in our current circumstances.

And then we were off and running.

The Dow picked up more than 341 points – and you could actually see it start when he gave these remarks.

Bostic further said that he wanted “slow and steady” hikes and that the Fed should pause rates when it reaches a certain point.

Still, Bostic said he must remain open to the data that larger increases will be needed.

“Not great, not terrible,” as Comrade Dyatlov from Chernobyl might have said.

Another interest rate increase is hardly good news, but it is expected. We’ve been hearing nothing but this for months.

But then, Christopher Waller, one of the members of the Board of Governors, gave the market another bracing dose of pessimism.

“Recent data suggest that consumer spending isn’t slowing that much, that the labor market continues to run unsustainably hot and that inflation is not coming down as fast as I had thought,” said Waller.

Worse, he said that interest rates “will have to be raised this year even more to ensure that we do not lose the momentum that was in place” before recent figures suggested inflation was running too hot.

What we’re seeing is something akin to a campaign.

Different figures at the Fed are making their case to the public – and the market is being jerked around by their various disagreements.

The fact is that the Fed is becoming much more of a political entity.

The negative aspects of central planning, especially the uncertainty that’s inserted by seemingly arbitrary judgments, are becoming a bigger part of the trading environment.

It’s for this reason that we need to be more stringent than ever when relying on our technical signals.

Cut out the noise.

Block out the Narratives.

Focus on the numbers.

And stick with a proven system.

Keep Moving,

P.S. I’ve found one surprise energy pick that I think is going to be absolutely critical over the next year.

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Mr. X’s motto – and since the beginning of Rogue Investing Daily…

He’s been giving picks with returns of 390% in under a year…
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COACH’S CORNER

“I mentioned yesterday to watch out for sudden reversals.”

“After a boringly choppy day with no particular direction, some sudden strength came into the major indices, and they ran up into the close.”

“Not a major move, but enough to threaten anyone’s short-term bearish options positions. Whether this is the start of something larger or just a short squeeze remains to be seen.”

“In the Trade Command room, we raked in cash selling credit spreads – the chop made directional trades suicidal. You have to fit your trades to the market conditions. Play only your favorite strategy when the market isn’t right will send you to the poorhouse.”

“At the close of the day, bullish signals were lighting up across the technology sector.”

“One of the key components is NVDA, shown in the daily chart below.”

“Now might be a good time to hop into that uptrend and ride the bullish wave.”

“Or if single stocks aren’t your cup of tea, consider one of the technology ETFs like QQQ, TECL, or TQQQ.”

“If you decide to take positions in any of these, be cautious and always filter these suggestions through your own analysis.”

“The overall trend is still bearish, so any upward move will likely be quick. Set your profit targets conservatively and take money off the table when you have it.”

Cheers,
Chris Hood

WORD ON THE STREET

SBUX Defies Senate, F Back On Track, APES Turn On AMC

What We Have Here Is A Failure To Communicate – AMC CEO Adam Aron is pushing shareholders to vote yes on an initiative that will allow the company to convert special APE shares into AMC common shares. He tried to sell it as a way to prevent future dilution but shareholders are unlikely to go with it. Many self-declared APEs are holding on for the long haul in the hope of a short squeeze. AMC was down more than 7% and APE was down about 9%.
F Will Begin F-150 Lightning Production – After a catastrophic production halt, Ford (F) is back on track. F-150 Lightning EVs will be produced again starting on March 13. The company says that it has solved the problem with the Lightning’s battery, though it didn’t disclose what it was or how they fixed it.

Ford is looking to produce 600,000 F-150 Lightnings this year (Image CC 4.0 by Elise240SX)

Starbucks Office – Starbucks says interim CEO Howard Schultz will still not testify at a Senate hearing dedicated to the company’s alleged noncompliance with federal labor law. SBUX suffered a defeat in an administrative court earlier this week and is facing opposition from its own employees on the subject of unionization. The company has said other officials would be a better fit for testimony on the Hill but Senate Health, Education, Labor and Pensions Committee chairman Bernie Sanders seems set on bagging Schultz himself for testimony.
C3.ai Inc. SKYROCKETS In After-Hours – It’s a good time to be an AI company. C3.ai (AI), which may have the best ticker for this market, was up 14.27% in after-hours trading after posting better-than-expected revenue and earnings. These gains came on top of an increase of 2.8% during the trading day. CEO Thomas Siebel said the company is facing a “dramatic change” from what it was dealing with in mid-2022.

HOT SPOTS: What’s Going on in Geopolitics

TSLA “Gigafactory” In Mexico Will Be Bigger Than The One In Texas – I imagine some in the Lone Star State will probably take offense to this. According to a Mexican official, Elon Musk’s new factory south of the border will span about 4,2000 acres. That’s twice the size of Mexico City’s airport, and far greater than the 2,500 acres comprising TSLA’s Texas plant.
Russia Accuses Ukraine Of “Terrorist Attack” – An attack in two villages in western Russia killed at least two people. President Vladimir Putin called it a “terrorist attack” and blamed Ukraine. Kyiv has denied any involvement.
USA Preparing Another $400 Million For Ukraine – The Biden Administration is expected to announce another arms package for Ukraine that is worth about $400 million. Ukrainian forces are signaling that they may be prepared to retreat from the eastern battleground of Bakhmut, a city that has little strategic value but has become an important symbolic prize for Russian forces.

CUTTING EDGE: What‘s Happening In Tech

SpaceX Has Another Successful Launch – Russia and the United States are still working together when it comes to space exploration, as two American astronauts, a Russian cosmonaut, and an astronaut from the UAE are on their way to the International Space Station. They took off in a SpaceX Crew Dragon capsule as part of a mission that will pave the way for a return to the Moon.
Feds Say No To Elon Musk’s Neuralink Chip – The FDA has reportedly denied an application by Neuralink to begin human trials of a brain implant. Key problems for the company are confronting safety issues about a device’s lithium battery, determining a way it can be removed safely, and answering whether the small wires of the device will move to other areas of the brain.
China Beating USA In Technology Race – According to a report from the Australian Strategic Policy Institute (ASPI), China is leading Western democracies when it comes to researching critical technologies. The fields where China has the lead include drones, machine learning, electric batteries, nuclear energy, critical minerals extraction, and others. The USA has a lead in a few other areas, notably space launch systems and quantum computing. However, the ASPI said this should be a “wake-up call for democratic nations.

China Has The Lead When It Comes To Drone Technology

“If you can’t answer that question, then you’ve identified a fundamental flaw in your planning and strategy – so work on them.”

Everyone has problems – even the best. We all struggle with our basest emotions… and sometimes they bleed over into our trading.

Ignoring the problem won’t make it go away. Instead, learn how to manage it – and maybe even turn it to your advantage with some new trading habits. Chris Hood will show you how.

DISCOVERING YOUR DEMONS

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CHAOS: Fed heads feud on interest rates

WORD ON THE STREET

SBUX Defies Senate, F Back On Track, APES Turn On AMC

HOT SPOTS: What’s Going on in Geopolitics

Russia Accuses Ukraine Of “Terrorist Attack” – An attack in two villages in western Russia killed at least two people. President Vladimir Putin called it a “terrorist attack” and blamed Ukraine. Kyiv has denied any involvement.

CUTTING EDGE: What‘s Happening In Tech

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