I’ve been trying to find something wrong with today’s tape — because I’m biased like a fucker — hoping for the very worst of times — nuclear detonations over Tokyo — gigantic sea monsters stomping the Koreans out of North Korea. Alas, it’s a rather hard thing to do when things are going swimmingly. Admittedly, today looks like a very nice bounce day — the type of day that make you feel great to be an American — get down to the ground and kneel — grateful for the privilege to be long stocks.
My automated stocks aren’t an emotional wreck like my discretionary, which is now solely long UVXY and YANG, awaiting some sort of dreadful, black, doom. The market I had envisioned for today hasn’t panned out, just yet. I am, however, hopeful.
When you’re in a market that is being led by Snapchat, you know you’re in a good one. Stick around, wait for all of the colors to mesh, forming a wondrous rainbow of people and their money, celebrating life and the pursuit of happiness.
Nothing is notable, aside from the fact that GLD is enduring a lesser fate than your average earnings miss and warning. There isn’t a resolute base in gold, just a bunch of ham and eggers cavorting around wall, complaining about the Federal Reserve.
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This – “When you’re in a market that is being led by Snapchat, you know you’re in a good one.” – pretty much sums it up.
Those VIX etf’s are garbage. Might as well buy SPY puts or VIX calls.
Per gold no directional conviction is needed other than the physical is likely to remain in its multi-year range. Mine expansion projects of scale are non existent in the the pipeline, except for a select few, and M&A activity will pick up. Cost control and pricing power will continue to improve for and industry that has been hammered over the past year. Simple fact is there is value in gold miners when compared to the market as a whole.
we don’t come here to listen to u bitch
it’s earnings season. give us some stocks to lose money on
I think these bounces have little follow through. Folks will sell off their one day gains. Still looking for 2450 or lower before 2525.