Bought A Bunch of QQQ Calls
The NDX is down hard, but ISM manafacturing data came out and the reading was 49.5 which spells contraction since the reading is under 50. That should support the potential for a RATE CUT, not a rate increase. In fact, that data guarantees the FED probably won’t raise interest rates for awhile, unless they want to send the US economy into a recession right away. I expect the market to take this as good news once digested on the day. If not today, Monday. I’m not an economist and don’t play one on this blog, but I did stay at a Holiday Inn last night.
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