The very first thing I wanted to see this morning was the market, 800-900 points lower. Instead, it gapped up by 200. I wanted to be skeptical. Bear in mind, I haven’t any skin in the game, ever since burning out like a race car engine in 2015. Since that momentous occasion, I’ve favored a more reasonable, disastrous scenario and was entreated to a small appetizer of it in early 2016.
Markets dropped like a fat man having a heart attack and I was delighted, not because I benefitted by it in any way, but because I wanted the world to burn (extra Joker). But today’s action is very strong and very convincing. If I was managing money today, I’d likely allocate a bunch of money into the stupidest stocks in the world, only to get blown to smithereens before settlement day. Or, I might just profit by it, grotesquely, then go brag to my idiot friends about how smart I was for buying stocks into a feverish lift.
Who wants to read about some skeptic on a joyous 200 point rally day? It’s like gathering around the fireside during Xmas festivities to tell the kids that Santa is a farce.
Enjoy the day. “The Fly” was wrong in his short term calls of apocalypse. But he will be right in the end, just know that.
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Look at TLT!!!!!!!
barely down. Smart people know the Ark is the only refuge. Let the gorillas run about the jungle, mashing each other in the heads with rocks.
I’ll be on the ark sipping tea.
I thought you’d be over at the Benzinga Fintech event good sir?
Trent J – How do you know Fly isn’t there? We have no idea who he even is?
Yes, nice reversal. Wonder if it knows something we don’t.
This is par for the last several weeks. +200 -200 for generally no overriding reason, and way more than avg swinging. Stop reading into it like a fuckin kid waiting for an ice cream truck. “oh my god. it must know something” stfu
It’sShowTime, problem was I could never decide between the Orange Push Up or the Good Humor Strawberry Shortcake so I bought them both.
Am i right in thinking that we’re rallying on absolutely no significant news &/or data?
Think QE4 docs got leaked or something?
There’s a high level of pessimism toward the markets and economy right now. This morning’s housing numbers were good enough to move the markets higher.
“enough to move the markets higher” Not in such an orderly // persistant // uniform // manner. Enough of a reason for whoever’s programming it to have an unimpeachable whopper move. // Yeah
that argument makes absolutely no sense against the 30 handle rally we’re experiencing.
Home sales data isn’t nearly that impactful. PLUS – good data = increased probability of rate hike, which is bearish.
It’s something else. Someone big had 2 have covered everything 2 day and/or there’s some type of leaked news.
??? You consider today to be a whopper move? This is less than a 250 point move on the Dow fer Chrissake. Today’s move will be forgotten in less than a week.
Whopper moves are remembered for years if not decades. Examples: The market drop the day Congress voted against the Wall Street bailout. The crash of 87. Those were whopper moves.
jetzz
Have more nuance. I just said above that we’ve been swinging +-200 fairly often recently. Whopper meaning 200 for the sake of 200
[the little bump ups at 12:50 1:50 drifting from 1-1:50 2-2:50 (voraciously zealous 1st hour pump) is even consistent with recent patterns]
Ifly: This is the Internets. We are all multizillionaires who know everything– or else we are pretending to be.
I didn’t comment on your “Danger: The Yield Curve is Flattening”. What you’re suggesting is that the Fed isn’t smart enough to know that an inverted yield curve will cause a recession and will therefore raise rates that will cause an inverted yield curve. I don’t buy it. I don’t see the Fed causing an inverted yield curve.
I see the markets continuing to muddle along and consolidate, eventually leading to another leg up. You’re sounding like you expect the market to either boom or bust; there are no sideways consolidation markets.
We’re at that boom or bust point… yeah
Mind you that the Fed has a stunning 0% accurately for anticipating recessions
*accuracy
Really? How would they exhibit their anticipation of recessions? Propose a measurable thesis and then backtest it.
The Fed is a propaganda organization. It’s for the greater good of course, no matter how misguided they are, but they always fantasize the economic reality. That’s there job.
As someone from the sell-side, I can tell you with all honesty that they call the desk to spitball ideas and get our interpretation b/c they have no idea what’s really behind the scenes.
Yep. They’re complete idiots. They’re not getting second/third opinions; they’re too stupid to have any opinion.
Thanks for the brilliant analysis; only you and your buddies know where the market’s going. You’re a multizillionaire, right?
Where’s the rolleyes emoticom?
By the way, nice deflection on a serious question that I asked you. You can’t answer the question so you go into another rant.
Ifly: This is the Internets. We are all multizillionaires who know everything– or else we are pretending to be.
Shut up.
You shut up, kugar.
Right before the market dropped into the Greek-borne pits of smelly hell in August of 2011, there was an upward push not unlike what we are seeing today. The same is true of the August 2015 surprise disaster.
I put no stock in this rally until there is a theme behind it. Whether that theme is a lie or not doesn’t matter, it just needs to be believable enough to be embraced. Tell me the market is awaiting Chinese QE, or some other nonsense.
Seeing as there will be no theme other than “rate hikes for the foreseeable future” it seems using days like today to get short would be smarter than using days like today to get even longer.
That is fucking-brilliant zuul
hope you dont get cancer cancelling it out
Looks like showtime finally lost it all today. That means stocks might actually go down for once. You are like the Mini-Me Paulson.
emphasis on Mini
I took the time to sell into todays low volume up day. Did not go short anymore, but sold off some longs. Gartman style. In dollar terms, not yen AUD nor MARS LOONIES…
Bullshit aside……..S&P is still in a downtrend……..trade accordingly.
lol
We will not go down until Memorial weekend is done. Businesses need some stock relief in order to give out free meals to the veterans out there.
@iflyjetzzz : I assumed your “serious question” was just young&cheek. Maybe assuming you were intelligent to know that economics is a soft-science where by having a perfect working model to predict recessions would be impossible.
BTFD!