My musings on the general doom overhanging us in the form of countries bearing men who enjoy pants that fit far too tightly and women with hairy armpits should not make you forget the moment. The US is better than it’s ever been – except it isn’t – but you won’t “know” that for a good few months yet. In the meantime, there’s no reason we can’t sweep Europe back under the rug and pretend.
We were running so hot…there was no way that pace could keep up. There needed to be a rest. Today’s move brings stocks back down a notch, giving the sidelined money the option to wade into the water…where eurosharks wait with anticipation to bite off limbs and ruin days.
My positions, whatever their complications today, all remain above their 50 day moving averages. As we touch down on momentum, let’s keep an open mind here. After all, this is a bull market; right up until it isn’t any more.
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Anecdotal macro I use the Outback indicator. Up until the collapse my local Outback Steakhouse was packed with 1-2 hours wait. Then after the collapse it all changed. Could almost sit down without any waiting. The past 4 months thats changed again with 1 hour waits becoming the norm again. Something is happening but I dont know what.
Hahaha then you should obviously start recording the “Outback Indicator” in the Blogger Network.
SP touches 1350 or so before 1550.