Everyone loves V-shaped recoveries, even bears. They get to be executed in a timely fashion, the bulls get their money, and everyone is pretty much accepting of the notion that stocks are not to be trifled with. But these long, drawn out, grinds are what everyone hates. They toss and turn, scrape and skid, until your portfolios are nothing but magic fairy dust.
This is the worst market ever, a denizen of torture.
Look at today’s mess: +150 but just 59% of stocks are higher. Moreover, my Bubble Basket, neatly tucked away in Exodus, is down for the day. In other words, good companies are having their shares sold down, due to valuation, while other shit lifts. I am sure I could easily find out what other shit is trending, but why bother? By tomorrow, that shit will be lower and the Bubble Basket will be higher, and vice versa, for infinity, until everything is ash.
960 stocks are OVERSOLD in Exodus today. The overall hybrid has broken through the floor boards and is now testing new levels of OS, the likes I haven’t seen since 2011–all the while our President is closing on a deal with Iran. How wonderful.
What will drag this market out from its funk?
For starters, the god damn absentee Fed Chief can come out from hiding and tell people she’s not gonna raise rates during a fucking panic.
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