Tuesday , September 17 2024
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Today was a throwaway day.

Summary:
Everything could be reversed tomorrow if Powell gives the market what it wants. 

Topics:
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Everything could be reversed tomorrow if Powell gives the market what it wants. 
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

29 comments

  1. Qs sold off not the IWM. It was down some only. Profit taking, jitters about tomorrow, etc… could be many reasons for the selling today.

  2. what about oil prices, what doe these mean for the rest of the market?

  3. Hit 200k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in January

    • @AdrainHernandez-d8i

      How please

    • @AdrainHernandez-d8i

      I've been investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?

    • I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance

    • She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.

    • 😱Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!

  4. Time value of money.

  5. @barrymcbrush5452

    Great job as always Mike!

  6. How does Powell attract more 10 year Treasury customers?

  7. @barrymcbrush5452

    Mike is a G.O.A.T. Economics Teacher!!! Join our team!!!

  8. @barrymcbrush5452

    Looking forward to Sunday's MMT Report for sure!

  9. Donald Trump is going to host an awards ceremony dedicated to the Capitol riot.

  10. @joshuaburns3167

    Pure gold ✨️

  11. Kamala Harris proposed a 44% tax increase from 20% and she wants to tax unrealized gains, what’s your thoughts on this Sir? Thank you

    • That will never happen- republican talking point to hurt the Dems … Just like Trump is a dictator- Democrat talking point just to hurt the trumpster 🤣

  12. Your water in the desert 🐪 analogy was hilarious 😂

  13. good information!

  14. @user-it1mc3nq7h

    ❤👁

  15. @financeeconomics1057

    Kamala would be a disaster for investors. Higher capital gains taxes and tax on unrealized gains.

  16. Mike look up kamala Harris's new wonderful policy on stocks.If you hold your stock for a whole year and you have capital gains and you don't sell your stock you have to pay tax on those capital gains. So be careful to whom you vote for because when you have to pay taxes on a stock you didn't even sell games that you haven't even acquired it's disgusting

  17. Goldman reduced the likelihood of recession bruh

  18. I don’t understand how you can call slowdown with full employment.

  19. @cryptoniteclark

    I'm not sure what reports you are looking at, but social withdrawals haven't changed significantly. If you compare the reports 08/21/2023 with 08/21/2024, the main driver for the decrease in money flows is taxes; particularly $96b additional corporate taxes, $122b additional Non Withheld Ind/SECA Electronic Taxes, and $110b additional Withheld Individual/FICA Taxes.

    • @cryptoniteclark

      Incidentally, there's been $104b of additional Interest on Treasury Securities payments between those dates.

  20. What happened to you last prediction that the FED wouldn’t be able to make their payments to the Treasury. Whatever happened with that there?

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