Like I said earlier, we had every excuse to trade down today. Europe was down. Oil was crushed. Hell, today is a Friday. All sorts of bad things could happen over the weekend. By the time Monday comes around, for all we know, the Chinese, Russians and the Italians could all be bankrupted.
But we didn’t go down.
There’s an old Wall Street adage that says ‘never short a dull market.’ Today was definitely a snooze fest, one that gently rocked the short to sleep, whispering in their ears that all was well and next week would bring forth gains, of the bountiful varietal.
This is how it begins, the effervescent movements in equity prices that lay waste to short sellers–causing great pain and anguish.
Heading into next week, I am 75% long SPY (basis $185), 25% TLT (basis $120.42). I will begin selling out of my SPY positions on Tuesday of next week, in one-third allotments, and should be in a 75% cash position by the end of the week. I am merely a servant to the sublime nature of the mathematical precision of Exodus.
My bubble basket was up 1.65% today, indicative of extreme risk taking.
From everything that I can gather, information on the surface and below, markets are heading higher next week.
Enjoy the run.
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There is another saying that goes “Never short a market when the TeeVee is full of Devil Dogs.”
Hard for a pinned tape to fall. 192 $SPY to the penny.
From the Verge, a well respected tech web site owned by Vox Media.
How dangerous is the tool the FBI is asking Apple to build?
Hacking the iPhone could have lasting consequences
http://www.theverge.com/2016/2/19/11064054/apple-fbi-lockscreen-encryption-passcode-backdoor
“In many ways, it’s confirmation of what security professionals have been saying for decades: you can’t build a backdoor without weakening security. And while Apple and the FBI have disagreed over whether it counts as a backdoor, the court-ordered software has many of the same properties. In the right hands, it’s unnoticeable; in the wrong hands, it’s a persistent point of vulnerability. If Apple loses its case and such orders become commonplace, it may be a vulnerability the entire industry will have to grapple with.”
Is this usually the period of time where Roth action starts getting interested?
Sometime when you have a dull moment, take a good look at the NIKKEI chart from 1990 on. It is instructive in how bear markets perform.
It is going to be two very crazy weeks, G20 has to come up with a master plan to save the world, Draghi will have to really do EVERYTHING, not just talk and Kuroda has to Fix a Broken Japan which they haven’t been able to do in 20 years.
What great entertainment this guy provides.
http://www.msnbc.com/msnbc/trump-hails-torture-mass-killings-pigs-blood-ammo-sc
I can’t imagine he can keep saying this kind of stuff and get his party’s nomination. He’s just for laughs, for sure. But it’s sad for his supporters, who are apparently so frightened that they can’t think rationally.
this SPY chart has a strange left hand right hand pitchfork in development calling for a kiss of 2020. unless you bears can get the drama going again
@Nymph…..global coordinated stimulus plan aimed at infrastructure that’s a card that could get played and will throw cold water on vastly lower prices……Ontario releases its budget Feb 25th, the Canadian government will release theirs end of March. Alberta has already talked about throwing money at the downstream oil and gas space out West.
I expect you will see all the other candidates talk good paying job creation in the domestic market through projects that benefit the community. QE isn’t having the kick on effect that they had hoped for so why not fire money at infrastructure sort of like a modern day FDR plan.
http://www.businessinsider.com/clinton-pushes-125-billion-stimulus-plan-2016-2
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