This is a repeating theme. No matter how bad oil looks or the data out of China gets, there will always be robots out there buying XOM and CAT, especially since those are Dow 30 components. Both Italy and Spain dropped like fucking anvils, off by 2%. Yet, here we are now and stocks closed out the day higher, +5 on the SPY and +15 on the NASDAQ.
Oil has been tossed into the sewers, off by 14% since last month–but no one cares.
Fed interested in hiking rates?
No one gives a shit.
If you stand back and think about all of these horrible things, you’ll never invest a single penny in the market. The bull case for stocks, especially since 2009, is and will continue to be succored by the fact that ‘there’s nowhere else to put money.’ What a wonderfully monstrous reason to invest earned wages into markets. A fucking casino.
Speaking of which, revenues in Macau might’ve bottomed. Keep an eye out for those WYNN numbers to confirm.
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I like to put my money in something safe … like a -0.15% bond! Or a 1% checking account.
A dumbdowned people, which, the people in control Eagerly Oblige, having dumbdowned people.