The new Philly Fed asshole just came out with emphatic remarks about how the Fed needs to hike rates now, else lose credibility.
The market is up 200; but market breadth is at a paltry and pathetic 62%. In other words, 38% of stocks are lower today, including many of my stocks, like PAH and SHAK.
There is no way, whatsoever, this rally holds with just 60% breadth. Moreover, being that oil is in the dumps and so many stocks are getting hammered into fucking pieces today, I don’t see any cause for joy right now. As a matter of fact, I’d be much happier if the market was down 200. At least then I could bitch and moan about stocks declining.
With this shit, I just look like a super asshole for having bad stocks in an up tape. We are in a very selective bull run.
Once again, I’ll be shocked if by 4pm this market is still up 200 points. I’ll even eat a piece of lumber if it were to occur.
If you enjoy the content at iBankCoin, please follow us on Twitter
Even that bite of random length lumber will be expensive. +3.7%
Would you “suck your own d**k”? Lolz
Lol! I’m counting on a Periscope of the lumber eating tonight. Fly – you better not puss out and select one of those flimsy flat toothpicks, either.
Hahaha excited to see this one play out
no way, lol
Most of the stuff that goes on in the markets is bullshit, smoke & mirrors, craziness– like all the people following Martin Shkreli’s stock recommendations that he got PIPE financing for. After he made tons of money off of preying on sick people by overcharging them for drugs. I guess some people figure he’s cruel enough that that his cruelty is what is responsible for his making money. So he’s their role model of financial success now.
What will be next? Will “investors” start following the recoes of some trader who brags about his cruelty in making millions by selling street drugs to elementary school children?
As for the Fed, I don’t think they are intentionally cruel people, but they do seem clueless. I’m not for rate hikes. But they are right to be concerned about losing credibility. There are plenty of things they could do to become more credible though, other than hiking rates.