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   atomicpoet (atomicpoet@atomicpoet.org)'s status on Wednesday, 07-Aug-2024 05:44:40 JST atomicpoet

   Markets are up but I’m 90% sure it’s a dead cat bounce.

   You see, on Thursday, we’re going to get more data on jobless claims. And it’s likely to confirm previous unemployment data.

   • Embed this notice
     atomicpoet (atomicpoet@atomicpoet.org)'s status on Wednesday, 07-Aug-2024 05:44:34 JST atomicpoet

     in reply to

     • David Gerhart

     @gearhead There’s extreme fear on the stock market right now, and what’s driving that fear is that the Fed is too slow in lowering interest rates to counter rising unemployment.

     So anything that bolsters the notion that unemployment is rising will drive up fear.

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     David Gerhart (gearhead@fosstodon.org)'s status on Wednesday, 07-Aug-2024 05:44:35 JST David Gerhart

     in reply to

     @atomicpoet

     I almost snagged some NVDA yesterday.., and thot… hmmm. Same reason. Thursday. The summer slump?

     HistoPol (#HP) 🥥 🌴 repeated this.