There’s some bullshit story out about an oil production freeze, concocted by the beggars in Venezuela. The story is going mainstream and they even tie the House of Saud in with it. As a result, oil is bouncing and so are stocks.
I really liked the open, with stocks delving into the lower bands of sanity and then recoiling from the fires of hell. This is precisely what bottoms look like.
Now we need Yellen is grow a fucking beard and step up her Fed chief game. Ever since she’s been chief, markets have been miserable. I vividly remember saying stocks should be sold when Bernanke left his post at the Fed. That call ended up being right.
I’ll make another call for you here. Janet Yellen will go down as the single worst Fed Chair in history.
Moving on. I had a whole post lined up, pointing to Bill Ackman’s positions getting clobbered today. But then I felt like a bully, so I scrapped it. It’s very easy to demonize guys like Bill, treat them as sub humans and have a good belly laugh at their displeasure. But that’s not who I am, really. If I saw Bill in the subways, I’d place a $5 bill in his coffee cup to help him out. I’m done discussing the trials and tribulations of a Mr. William Albert Ackman. I wish him the best of luck.
My current position is 50% SPY, 25% TLT, 25% cash.
Grab an Exodus free trial now. I’ll be ending access to them tomorrow.
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*YELLEN’S PREPARED REMARKS VIRTUALLY IDENTICAL TO THOSE ON WED.
*YELLEN CANCELS REMARKS TO VISIT PODIATRIST
*YELLEN TESTIMONY DELAYED – SAW COUPON FOR WERTHER’S ORIGINAL CANDIES AT CVS THAT EXPIRED TODAY
If she grew a beard, would it match the carpet? Asking for a friend.
In a parallel universe TBT closes at 40 on Friday.
Did you ever think Bernanke, like the snake oil salesman he is got out of town on purpose because he knew the gig was up?
How dare you
100% CORRECT. However, history will not forget the perfidious exploits of that particular criminal.
Maybe they should implement a “must be this tall to be Fed Chair” rule. Time to swing the other way on stature!
I fear this is kind of like an Apple earnings conference call, in which the stock is doing great right up until Tim Cook opens his mouth.
You ride the subway????
Dr. Fly – how can you expect Grandma to grow a Bernanke-beard when you won’t even grow one yourself? Maybe it’s time to try again…
p.s. Ever notice how the market started tanking the instant Raul shaved his? There’s something to this…
The More she talks the jittery the market becomes…O confidence in her gobbledygook messages
That was a nice 10 minute rebound, now back into the abyss.