- Everything about today is representative of this entire year.
- A year that witnessed the movement of about 1400 SPX points. Yet the indices are stuck in a 100 point trading range and are flat for the year.
- A world where one day Europe and the Euro are toast and then are saved.
- A world economy that would be shrinking if not for the endless leveraged stimulus and bailouts from insolvent Central Banks.
- A banking system that is on the brink of collapse yet is more stuffed with liquidity than at any time in history.
- An economy that is wallowing deep in the trenches and barely muddling along, yet is somehow stronger than expected.
- Commodity prices that have almost no bearing on actual supply and demand forces of a free market.
- An environment where interest rates are being manipulated ever-lower to their eventual target of zero, destroying all prudent savers.
- A market that is subject to the most extreme and historic velocity of point swings and market internals yet remains stuck.
- A market that trades just 15% from the all-time, Shadow Banking, Housing Bubble highs, yet endures multiples of the debt that was outstanding during those earlier times.
- A market that deteriorates for weeks, dropping 3% and then gaps higher by 3% in one morning bailing out the riskiest traders in a mysterious “Magical Mystery Rally”.
Like so many other times this year, the only way to have profited from today’s 300 point rise would have been to buy the deteriorating and lopsided market. The lessons are that you continue to be trained with the carrot and the stick until you are hypnotised into believing that there is only one outcome to any market endeavor.
Thanks to Uncle Ben for his wonderful present for the first day of Hanukkah!
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Well said. Great summary.
“the only way to have profited from today’s 300 point rise would have been to buy the deteriorating and lopsided market.”
Or been a member of the PPT and know that we were OS a few days ago.
Great post.
Yo Ben, it’s Vick. Stock’s under $5. Mkt sentiment is pretty bad. We’re positioned, it’s a go.
And a Happy Hanukkah to you too Uncle Scott.
Thanks! Right back at ya…
“Thanks to Uncle Ben for his wonderful present for the first day of Hanukkah!”
The stimulus was only supposed to last for 1 year but thanks to God (Ben Bernanke), it will last for 8. Halelujah!
It is the Miracle of the Lights!
The Stimulus will burn for Eight Years!
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It seems to me in the above post you are admitting that you understand nothing.
nothing or perhaps everything…
A truly wise person will be the first to acknowledge how little they really understand.
you cynic, Bleier! 😉
thanks, this was the NO NEWS out of europe rally.
Happy Hanukkah Scotty.
Oh, almost forgot. Great post. Summed up the year perfectly.
Here’s my question — was the great Steeler, the war vet, Rocky Bleier, of the Tribal Set as well?
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Not sure, but, four Super Bowl rings wearer Randy “the Rabbi” Grossman played for the Steelers.
http://en.wikipedia.org/wiki/Randy_Grossman
No, Rocky was not a tribe member.
#nailedit
The lessons are that you continue to be trained with the carrot and the stick until you are hypnotised into believing that there is only one outcome to any market endeavor.
Best quote!
PERFECT RE CAP FOR THE NEW YEAR
THANKS, SCOTT
Bought TVIX on Wed. for $29.28, anyone know why it’s elevating today?? I’ve got a really good feeling it is going to skyrocket by the end of today and into next week!!!!!!!