I am exploring the possibility of putting some of my own money to work in calls here and the spreads are fucking insane. Every time I seem to muster up the courage to consider buying, the market takes another leg lower.
Let’s try to analyze what will happen over the next 24 hours.
Will China respond to this drop with stimulus?
I don’t think they will lower rates, since that would weaken their piece of shit currency. Do you see the box those dog-eaters have placed themselves in? There is a parable tucked away there, somewhere. Through their greed and avarice to outstrip ancient enemies, like Japan, they’ve dug their own grave. Stupid Hansel and Gretel motherfuckers, with chocolate all of their faces.
Moving on. Will our Fed respond?
Janet Yellen is a moron, obviously.
It’s entirely possible that nothing happens at all, as policy makers believe, through hubris, that this dip will fix itself and the market will recover.
I guess it comes down to valuation. Are we cheap?
The market isn’t expensive at all. However, Fred Wilson’s portfolio of privately held pieces of shit are heinously overvalued. If we are to truly bottom, valuation wise, we need a tidal wave of pain to hit the shores of egregious start-ups, whose valuations have been blown out of proportion by cocaine addled VC managers. Guess what, fucked face? The public markets aren’t interested in your wares. As such, Uber should take $20 billion off its privately held cap, and Snap Chat should simply go away.
The market is now teetering, on the brink of heading back towards the -500+ mark, thanks to margin selling and early dip buyers tossing in the towel. I’d be hard pressed to believe we will rally into the bell, considering how this decline was born in Asia. We need to see China do something before getting the “all is a go” signal. The only problem with that, truth be told, is the Chinese are rank amateurs who’d never reverse a decision, publicly, in order to not “lose face”.