Because foreign banks are cool and totally solvent, investors bought them in droves today. I get no pleasure out of highlighting the big bold letters in front of our faces. But there it is, the bounce back day for stocks led higher by hospital beds and gold mines. Market breadth was at 73%, so there was broad market participation. However, we’re stuck inside of a trading range, a purgatory if you will, until there is some resolution on these worldly events transpiring.
Some of the bounce in gold is due to the renewed belief that the Fed is filled with shit and will not hike rates. In my opinion, today’s spike in risk off assets was predicated more around that narrative than fear of a market drawdown.
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The Rigged-Perspective: government computers all day
natural selloff started from gap open
machines were on to extinguish selling
10am burst, 1020am containment, 1030am burst
buying can resume with drifts at 12pm and 2pm
minor programming after 12pm to basically minimize drift
dow s&p summary. naz sometimes under its own artifically juiced bubbling. middlefinger grin.
fly, in reality the fed does not control interest rate.
http://www.zerohedge.com/news/2016-10-18/saudis-china-dump-treasuries-foreign-central-banks-liquidate-record-346-billion-us-p
Do not know about that dude. Everything is rigged until the table is set then Craps out. By design. Some raghead from Hell has and always will be irrelevant. Could be wrong.