MARKETS CLOSE OUT SEPTEMBER WITH A BANG; DEUTSCHE BANK SAVED BY MEDIA

For the month, however, stocks went nowhere. The top performing industries were 3-d printers, casinos, industrial metals and biotech. On the downside were semis, food, building materials and restaurants.

In spite of today’s drop, TLT closed out the month lower by just 1.3%, not including dividends. GLD was higher by 0.42% and everyone is transfixed on DB, which ended the month down by 8% — despite today’s gangbuster move.

I do not think the saga at DB is over. It was never about the DOJ fine, but a material weakness in the underlying business. The shares aren’t down by half this year because of a stupid, fucking, fine, ok?

This is the core issue.

That’s called ‘sharply lower revenues’ due to a deleterious banking environment in Europe, in part thanks to the negative interest rate phenomenon. This whole DOJ induced collapse and then subsequent rally upon hearing of a much lesser fine is meaningless drivel — a large distraction and a three-dimensional chess move that many of you are unable to see.

Without the explicit support of the financial media to quell fears and constantly remind people that Deutsche Bank wasn’t Lehman, over and over again, I am convinced that today’s trading session would’ve ended a lot different than a +150 showing.

Bear in mind, during the financial crisis CNBC was deliberately reporting on false rumors in an effort to jack markets higher. It used to drive me fucking nuts and I am sure I’ve blogged about it more than a dozen times during 2008-2009.

NOTE: Don’t forget to check out Exodus in FREE TRIAL for today only. I have a financial contagion screen up in the blog post you should check out.

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