Are you disgusted by the title? The market action? You’re not alone.
Last week, in 3.5 days the market indices dropped 6%. Yesterday, in 1 day it was up 3%. Yesterday bellwether stocks were up 7% and every single S&P 500 stock was positive.
Today those same bellwethers are down yet something is pinning the SPX to 1200, up on the day.
Every market move occurs at the open driven by low volume futures trading. And daily market volume is ridiculously low, but that doesn’t matter.
Two weeks ago we “discovered” that Politicians were trading legally on insider information. Today we “discover” that Paulson, the Treasury Secretary of the United States of America, told his “friends” non-public information that they most certainly traded on.
Europe has no plan other than to deal with each crisis individually and as it appears.
House prices will be down another 10% this quarter as they have been during each fourth quarter since 2007.
Money is pouring into the perceived oil and paying ever higher prices regardless of demand, just like in 2008.
Yet we are to believe that consumer confidence just jumped 20 points this month?
MARKETS ARE ILLIQUID YET CORRELATED. IT IS A RECIPIE FOR A MINSKY MOMENT.
Use these insane Bear Market, rip your face off rallies to FUCKING PROTECT YOURSELVES. Play the grind all you want but know what could be coming at any time.
Caution pisses traders off, until they lose their shirts. Don’t be pant-less when the market gives you the finger.
And remember, IT’S MONTH-END…
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