Big moves in the Nasdaq today. I’m blogging from an old iPhone in my car. I’m nearly done with summer vacations. I have 1 planned vacation left, the Berkshires in October. After that, it’s all work and no play.
Breadth is not too strong today, but the true nature of the tape can be found in stocks like OLED and SHOP — two of today’s strongest growth trading stocks.
My bubble basket is higher by 2% today, indicative of a market that embraces risk.
I’m glad to be away for a little bit, as I’m sick of the news and especially politics.
I’ll be checking in later.
Ciao.
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The man-spreading of your poster image has triggered me. Could you please ask that statue to modestly cross his legs (besides I don’t like the way my wife is drooling).
LOL! Just think of the hours that sculptor spent chipping away to make that thang.
You need to be more creative on the vacation thing.
“a market that embraces risk”
Very little that happens in US equities right now is by accident. Very. Little. (As I said 4.5+ years ago, they implemented a control regime over the indexes. that’s been refined in a few stages since then.)
They are ‘desperately’ trying to get sub11 vix for today. As I write this, they have 11.01. (sub11 has historical, bubble, boombust, and faux-euphoria aspects to it for anyone saying: who cares)
Of course
“The machines have achieved their short-term goal (getting the S&P above its 50-day moving-average”
-zh
Global industrial production trending up, demand for money (or “safe” assets if you prefer), bonds are topping out as we speak, and tips are back at 5 year highs. In short, inflation expectations are picking up rapidly with a super tight employment market so keep a tight stop on those gold shorts and likely expect granny FED to increase rates quicker than expected in 2018 to bring a recessionary end to the current party. Till then, the general trend is risk on.
The market is driven by the technicals in the short run. This market is going higher again, boys. Just look at the market reaction to the fat boy’s missile launch yesterday and the follow through today. That is all you need to know.
At least its not as disturbing as that guy lying on a barbed wire fence he posted earlier this year.