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The feds tired of keeping interest rates low. The economy is too strong, too hot, too much easy money.

So it's time to tighten, maybe tighten hard. Or in plain English, if you believe the federal

reserve plays a big role in the direction of the stock market and it does, you won't like the

minutes they released today because it's clear they want to hit the brakes on the economy.

Hence the harsh declines this afternoon and then the Dow closing down the 393 points

as it becomes a 1.94% and the NASDAQ plunging 3.34% the worst since February of last

year. Now I don't think these minutes signal that we're about to have repeated the fourth

quarter of 2018 when a new fed chief came in and threatened to hit us with three

brakes in a row, a lockstep. These are just minutes they're not policy, not even

transcripts, just a debate among fed officials about what to do. And J-Powell is now

a lot more cognizant of the power of his own words unlike back then when he was

a rookie. But it's clear the fed is no longer your friend. So what does this mean to us as

we look for opportunities in 2022? Same thing I've been saying since Powell Pivot in November,

swap out of the still richly valued conceptual stocks with no earnings and swap into the

boring tangible ones with profits and dividends and maybe even buybacks. At these

intense moments in the stock market what I like to do is actually look at the indices

...