Allegedly, the market rallied today after Fed’s Fischer’s comments, sounding like a buffoon who first discovered fire and its heating elements. Oil remained in the doldrums and utilities led the way higher–hardly an inspiring trading session. With the Iowa caucuses looming this evening and the cancer of negative rates spreading around the world, ice cube marinator in Chief, Arthur Cashin, believes the Fed has–once again–painted themselves into a corner.
Cashin sums it up saying “tell me what the crude market is gonna do tomorrow and I’ll tell you where everything is going.”
Crude was down 6% today.
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Fischer: “We don’t know what we’re going to do”
Translation: “We don’t know what we’re doing”
LOL, nothing new there though, is there?
True Dat
“We don’t know what we’re going to do”
Translation: “We know what we’re going to do”
i’ve painted myself into boring azz technical trading
Actually I was expecting a lot more pain on us Bears today, that BoJ rally appears to have been very short lived. This appears to be the same pattern we saw when ECB went Negative in 2014. QE is the only thing that will stop us from going down. Fischer’s comments didn’t move Fed Futures so using that as an excuse isn’t logical. Leaked GOOG earnings would make more sense for that attempted rally.
I think you Ursines will have to wait till March for a good meal.
And I still believe Hillary winning and Trump losing is bullish for this month
Love the term Ursines. We may get to eat well after the return of China from VaCa and there isn’t the restocking everyone is hoping for. We will see. But rofl normally the Bulls need their QE twinkle juice to move up very much.
“tell me what the crude market is gonna do tomorrow and I’ll tell you where everything is going.”
Can’t argue with him there. Although crude has had its day as a star, and some other star may take over, it can’t just crash through the floor every day without affecting the stocked market.
It is “iced cube” or “ice cubed”…?