Much to my surprise, this market is getting ready to lift off, thanks in part to the huge interest rate cut by the Fed (which just about everyone pooh-poohed). See, contrary to what bearshitters have postulated, interest rate cuts are good for the market. It just takes a little time and patience for things to kick in.
The size of the rate cut was actually historic, despite being downplayed by the bears.
Two weeks ago, I mentioned that I thought the market was setting up for a “shakeout”. Well, guess what? It sort of happened. Problem was, the market held the double bottom the past week, then broke out today. So no shakeout pattern, which is even better news for the bulls. The weak bulls weren’t shaken out. That tells me the bulls are more emboldened than I originally thought.
I’m really starting to see that we’re going higher, but want to see that delightful vision confirmed by market action and volume tomorrow and through Monday. Size matters.
If I do get confirmation, I may load the boat on the long side, including a large dosage of everybody’s favorite rally monkey-esque double ultra ETFs.
People, when all the chief asshat analysts start crunching valuation numbers, there’s nothing like ZERO interest rates to start making things look exceedingly cheap.
On top of that financial trickery, stocks are simply oversold. Sorry. We’re just due for a mark up here.
Cover those shorts. The future ain’t what it used to be.
When it comes to interest rate manipulations, in the end, size does matter.If you enjoy the content at iBankCoin, please follow us on Twitter