Bloodmoon Meltdown

Everything was all fine and dandy until a war broke out in the Ukraine. I can’t say for certain that this means nothing, since our government seems to be pretty hellbent on protecting Ukraine, in some shape or fashion. All of the comparisons of Putin to Hitler are a joke. It’s a sad situation for the good people living in Kiev and I’d hate to be living there right now, looking down the barrel of a Russian gun. However, on a macro level, the Ukraine isn’t very important to world trade.

I hope this can get resolved peacefully, through some good old fashioned diplomacy. This truly is Obama’s defining moment as President.

As for stocks, they’re frightening right now, the way they’re whipsawing back and forth. However, it’s worth noting they are going much more back than forth. Nevertheless, I remain constructive around the idea of stabilization. It’s a very contrarian opinion, one that I’ve been wrong on for some time now, digging in my heels to the point of absurdity. But aside from the action of the past 6 weeks, we’ve certainly crossed the threshold of significant oversold levels late last week. Any further deterioration is simply salt atop the wounds, gratuitous gluttony mixed with fear on behalf of the market assembly.

While it may succor me to think that the bounce off the lows will be fierce and magnanimous, there hasn’t been too many signs of optimism.

One can still dream of upward reversals, bears running down narrow corridors, trampling over and skewing those in their way. In glorious fashion, the market would soar to new highs, amidst earnings beats and upped guidance. Putin would be declared a “miscreant fool”, as the UN bombed the Kremlin into a garbage can.

One can dream and dream I shall. Until then…reality.