18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,158 Blog Posts

Is There a Chance for a Summer Rally?

There is ZERO chance we rally from here until Labor Day, absolutely and positively zero. We might look good now, as the futures poke higher amidst no news. But at some point earnings will get in the way and the economic data will dictate the direction, which will be inexorably lower.

Having said that — what if I’m wrong and markets rip higher?

There’s zero chance that I’m wrong too, so you’re gonna have to live with that also.

“But, Sir, the NASDAQ is cheap?”

Based upon what metric?

Look, I slept in my new house for the first time last night and the refrigerator already broke. I’m not particularly cheerful right now, having spent the entire weekend STACKING and PACKING boxes — filled with my useless junk. My garage is brimming from floor to ceiling with sealed boxes and the inside of my house looks like a vacated museum with relics strewn about in maximalist fashion. On top of that, the fucking painters are coming now. On top of that, I lost my computer charger and several other items in the move. So don’t ask me about the specter of a summer rally with all of this doom cast around me now.

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