German, French, Swiss and Netherlands 2 year bond yields are NEGATIVE. That means bond holders are paying them to take their money. What a wonderful position for a government to be in, no? Oil prices are plunging again and we are setting up for a rally?
Let me now warn you of a very ominous fact, regarding this market. Since 1999, the only two times the Nasdaq went down in both september and october was in 2000 and 2008. In both years, actual centaurs, beckoned from the pits of hell itself, were presented on the exchange floors to kick in the faces of investors, globally. Not only did stocks trade down sharply in October, they tanked in November too–off by 22% in 2000 and -11.4% in 2008. Moreover, during both years the United Steaks was thrusted into deep recession, the sort of economy that made people cry.
I see the futures are up this morning and all of you are wearing your hazmat suits to work today. Ebola stocks are all the rage and nothing can stop them from lifting by 30% per day. But ask yourself a question, just prior to buying them: “am I out of my fucking mind?”
The Islamic State is on the move, just 8 miles away from Baghdad. In Kobani, a kurdish town bordering Turkey, they are on the verge of overrunning the city, despite US air raids. There have been reports of genocide being committed there, with “hundreds of headless corpses” litterering the streets, some with their eyes gouged out too. All of this is occurring, while our dear NATO ally, Turkey, watches from their tanks. What the Turks don’t realize is that after ISIS finishes off the kurds, they will invade the Turks and cut their heads off too. These people must’ve been forged in middle earth, created to wreak havoc on the human race. To just stand by and do nothing is almost as bad as committing the crime itself.
Having said that, the futures are higher and we might capture some of our coin back today. However, I am starting to get the feeling that rallies should be sold into.
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Sir Fly. What is your preferred hedge for a portfolio for the near term? Do you buy the VIX? Maybe an inverse ETF like TZA? Puts on the SPY?
Utilities. I cannot stress enough how well they perform during periods of duress, without the downside of QE fueled rallies.
Tips hat.
I have some sympathy for the owners of the Peasant Grill in Princeton where that POS so called “journalist” (no such thing anymore -they are advocates for something) decided to break a quarantine for some grub.
If business falls at the Grill I would certainly contemplate a suit vs her and maybe NBC. Hopefully, the have “lost income” insurance.
It’s hard enough to run a business and still put up with idiots.
http://planetprinceton.com/2014/10/13/snyderman-sorry-for-ebola-quarantine-violation-episode-by-group-members/#disqus_thread
I don’t live too far away from that place.
It’s Obama’s fault she left her apartment.
I concur. I’ll just be sniping on the bounces personally.
Today we start slowly, moderate advances met with the “selling of the scared”, only to see the advance taken up again. As the day pushes on, a few brave souls will begin to size up, pushing the advance forward and catching the bears by surprise. Seeing our taurine friends coming under the lash, the mighty shall arise near the 2pm hour and smite the bears properly, sending the scurrying to retain what remains of their ill-gotten profits.
Or, we will reverse lower and end the day off by 300 NASDAQS
Without the final hour of trading we’d basically still be at all time highs.
– and if me mother owned me ship, she’d be Cap’n… 😉
We don’t go down again until Thursday afternoon / Friday morning… I think at least. 😀
That negative rate is a small premium to some for sheer “safety”
Prez Ebola sez:
If you like your isis (and Boko Haram, and Al Qaeda & Hezbullah, & Iranian nukes, etc etc…) you can keep em! 🙂
Ah crap, of course LAKE doesn’t have options.
If I wanted to show up at an office I work at in a hazmat ebola suit, would it cause a ‘stir’?
Only when e-bola really takes grip of The America will we finally be able to rally.
If you like your Democrat majority in the Senate, you can keep em. Period.
Sold all my positions….the prophecy is coming true.
The bottom is here.
Sorry.
Huggie. Dam I was pulling for you. What now? Back to Brazil?
Waiting for a more clear bounce with follow thru
yess thank you .. dow 17000 here we come
What to do?
What to do?
What to do?
fadeee
Watching SLCA almost in the 30s, when does this thing stop? Crazy!
I have until noon to initiate transfer of 401k to SPX or Wilshire 4500 effective tomorrow. Utterly useless America move or whooping it up move?
biotechs being sold off again..sees like everyone scared shitless and fleeing into safest stuff like financials, bonds, reits, and berkshire
Prez Ebola sez:
“If you like going to $50,000 a plate fundraisers with rich folks, and then demagogically criticizing rich folks, you can keep going to fundraisers. Period.”
ETR
Here we go again let the selloff start
Hard core downside in gild
that’s a beautiful thing
Well done on the headline…made me laugh.
I’m still shaken up from your tweet about the hot chick soldier who get her head cut off. 🙁
Arrrgh yee landlubbers, Thar she blows. BALT is at $3.00 a share!
Any of yee notice that CNBC has changed it’s music to a more ‘ominous’ sounding tune?