The global markets are in a state of sheer panic now, thanks to the monstrous jobs report of +54k reported in the United Steaks of America last week. Investors, in between joy rides in their smart cars, have been forced to sell equities, based upon the premise that the “double dip recession” is all but a foregone conclusion(apparently, there is no statute of limitations on declaring a “double dip recession,” no matter how long it has been since the last recession). In the event next month’s jobs number are good (heaven forbid), the smart cars will stop again and everyone will pile back into equities, like a herd of jackasses running towards a mirage.
The people from the teevee have given up hope, declaring this market “toxic” thanks to that heinous and barbaric +54k jobs report.
Just yesterday, we had a decent rally going; but then all of a sudden, a monster of sorts appeared—frightening everyone out of the markets. As this monster ROARED and THUNDERED throughout Wall Street, investors sashayed in and out of stocks, like dogs chasing feathers attached to their tails. By the end of the day, most investors cowered under the beds or in their respective closets, sending the Dow lower for a 6th consecutive day.
Over in Europe, as you read this, they are fleeing from stocks, like little Greeks running from Turks. Indices are down more than 1%, effectively sending our futures lower. The sad and grotesque reality is: there is no future.
All in all, the stage is set for another day of hedonistic adventures, as the usual cast of actors and actresses make their way down to the NYSE. All of the tiny, itsy, bitsy day traders are ready to go “FAZzing” and most, if not all, have declared this market to be deader than reason and democracy inside of any middle eastern country of your choosing.
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