Post by
Obscure1 on May 02, 2022 3:53pm
Added
I just picked up another 10k shares. The banks have all recovered about $1.50 per share off the lows of the day while LBS is still licking its wounds.
I'm expecting the FED to raise interest rates by 50 basis points tomorrow which will freeze the market until Powell speaks at 2pm on Wednsesday. My guess is that Powell will indicate that the FED is being proactive but will be watching the Q2 numbers carefully before making any decision on rates going forward. Based upon that, I expect the markets will move strongly upwards in the last hour of trading on Wednesday.
The market has a way of humbling us all, but with a yield of 12.8%, I can wait