To expound on Senor Fly’s point today, to chase gains is stupid. But if you said that in December of 1999, you may have well set yourself on fire in front of Maria Bartimoro.
Then, just like now, “investors” and traders are forced to set aside their better judgement or their outright disbelief and just buy.
Back then everyone KNEW that the party was not sustainable and downright cartoonish. Today almost everyone KNOWS that the party exists on the kindness of Free Central Bank money. Without it and the DOW drops to 10k as fast as you can say “Jack Armstrong”.
But with the free money, everyone and everything is ok, even if it isn’t, at least until April 15.
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In terms of hedges, XLY and XRT puts look like a solid idea here.Retail stocks are Doomed if we pullback.
And equally doomed if ben prints gasoline up to 6$
Isn’t it only March 8th?
JACK ARMSTRONG
STRETCH ARMSTRONG
__
Neil Armstrong
What is the significance of April 15th in the context of Scott’s post? I understand it is tax day but what is the projected effect in terms of the market? Thx
The Fed showed up with a large bag of crack cocaine yesterday and the party is raging on thru the night. News was leaked yesterday that the Fed is considering a sterilized quantitative easing program. Traders have not even taken a look at the particulars yet, and the program may not even occur, but that does not matter. What matters is that the leaked news is perceived as crack so the markets recovered yesterday and are set to open up higher today experiencing another QE rally
was thinkin about our warm winter, it may have brought forward sales that might not of happened. and with heating bills down 20-40% from last year. just thinkin we may get some push back. the fed adjusts for the winter season. but there modle may be incorect for this year.(besides all the other bullshit going on)
Anyone know who Jack Armstrong is? He is the All American Boy!
Didn’t you panic in August and again on Oct 1st, warning that all was lost? Sold my TZA on the 200+ pt down day, for a whopping 1% gain. Missed a lot of the upside due to Mauldin types like you and Roubini…
Maudlin. “A” game.
How bout Louie Armstrong.
Without a doubt the best move I’ve made regarding twitter is to stop following Bleier. Complete bear loser and whiner for so many months he’ll make you insane if you follow his tweets.