Perma-bulls are taking victory laps on Twitter and in the Pelican Room this morning, based on the notion that stocks did not open up at zero this morning. This is what one might call ‘drawing for straws.’ This is not a victory fucked-face, but a realization of the horrible horribles we already knew existed.
I suspect this dip might be bought, at least for a while. But it doesn’t change the narrative, not one bit. Apple is the first of many to pre-announce and offer weak guidance due to China. About $158b in US sales are done in China, and hardly any of them have guided lower.
Will I sell my stocks as promised yesterday?
Perhaps.
This ultra-bullish behavior is indicative of denial and I don’t like the idea that people believe this Apple news is good, in any way shape or form. Get it through your skulls, fucked face — we’re barreling towards perdition.
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Bad news is good news. Moar stimulus (China) and (relatively) looser monetary policy.
lower than yesterday; beginning of a re-test????
Good CEO’s don’t make excuses and blame “JINA”, they make profits.
more or less on the ark now mostly on the short end