In case you’ve been living in a hole, last night was an historic event. It was pretty impressive to watch the calamity ensue after the UK voted to leave the EU. Spooz went limit down last night hitting the magic 1999 level as pajama traders snorted entirely too much cocaine. Update on the market 30 minutes after the open and we are sitting at 2070, flat on the week.
The Fly has already embarked on his journey, the Ark has set sail, we bid him farewell. I warned him that seas may be choppy and to return to port before 3:30pm. The Ark is fundamentally flawed, built by cheap labor, filled with stupid animals. It’s never too late to join the Ramp Camp. We have the Fed and The PPT on our side. Plus we all saw what happened at the close yesterday. Do you really want to bet against that?
Moreover, the Fed funds are now predicting a 12% rate cut in September. Bad news = QE4 = Spooz 2100.
As I mentioned yesterday, I will be out golfing today, working on my 330 yard drive. I will be available remotely in case of emergency. Don’t do anything stupid today.
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modest “bets” on rate cuts? what’s with all this betting shit now entering the markets?
The market has always been a consistent string of bets.
Keep your head down and swing smoothly through the ball is my best advice. Fore!
Funny post. Post more!