Into the final weeks of November, when the gravy is rich and thick, fat faced Americans like to buy stocks — because they are greedy and callous and uncaring about the poor bears. Whilst you might believe this rally to be long in the tooth, there is a strong chance the prices you see before you today will in fact be MUCH HIGHER by next week.
There isn’t any logic or reason for that theory, other than the fact there seems to be more buyers than sellers now.
Risk averse stocks are being woodshedded and risk is on in a most serious way.
I am NOT partaking in the rally, aside from my Quant, which is PERMANENT BULL — because I am a PERMANENT BEAR at heart and truly and seriously want to see the world, all of it, burn.
That being said, I had traded back to positive an hour ago and have since SQUANDERED it and now find myself, once again, with nominal losses.
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The dollar’s recent plunge in anticipation of The Pivot should make the pivot less likely …if, that is, they plan on keeping the dollar for a while longer.
Rally long on toorh? Hardly.