It looks like the small respite we were expecting to enjoy this morning is, instead, going to be more pain. The pain threshold is really pushing the ram against the wall. Very soon, this pain might trans morph into outright panic and then mania — providing true discounts, all the while ruining an otherwise fine year for stocks.
This is the other side of the blade that I love and hate so much. I hate it because it makes life difficult and could become scary. I love it because if timed right, it provides a unique opportunity to buy shares cheaply.
Lots of cross-currents to deal with and opinions are being formed. Everyone is trying to make sense of the simple fact that Wall Street the Show is now performing Act 3 — the tragic decline. Soon this act will be finished and the recovery will be underway.
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Xxii may be breaking out here
It’s the Nikki Haley is quitting relief dead cat bounce. Let’s hope it’s not because he’s promoting her to the Secretary of War-making Goddess position, her dream come true.
She’ll round out her resume for a 2024 presidential run by taking Graham’s senate seat. She certainly has shown that she knows which asses to munch.
Long JD.
I say they take SPY and DIA to the 200 day MA, around 2800 – 25000….
BTFD
A deflationary asset spiral is going to occur. No question about it! Only variable is “when”. I don’t rule out new highs approaching 2019. But that is the end of it. Credit cycle is topping out, big-time.