We’re so oversold, the very fabric of this market is being tested now. Bill Ackman’s insane hedge fund, as reported by his own website tonight, is down 11.4%, before today’s ass-kicking. Chinese stocks rose by 1.8% and the NIKKEI barely traded down 500. As a result, SPY futures are up 8.
Are you going to fall for this trick again?
European markets are being called lower. The divergence between large and small cap losses are narrow, which speaks volumes to the level of distribution we are seeing. It is indiscriminate and without bias. Both big and small investors are getting laid into by Mother Market, with her fiercest squall to start a new year…ever.
The market needs to rally now. We cannot wait until Monday or chalk up Thursdays as being too close to Fridays, therefore unable to rally.
The news doesn’t matter, only the emotional fever of the moment. Right now, the mood is wrought with panic. Once the bounce gets going, that panic will transform into unchecked greed and then you will have your rally. Hopefully you’ll still be alive to see the day.
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