PigMen Shafted, Russian Escorts Stranded in Europe, Hamptons Weekend Ruined
How quickly things can unravel for the PigMen Prop Desk traders at Goldman. Wall Street gets busted. However, Joe Sixpack is unfazed, as retailers once again are immune and resilient from any type of convulsion, algospasm, or Black Swan event impacting the financial markets.
Instead of tipping Martinis on the outdoor deck, fondling 19-year old Ukranian escorts, and boasting of how many large clients they ripped off, the PigMen are going to be walking around this weekend in their Park Ave. apartments. Scratching their heads, wondering if their beloved firm is going to go down the toilet, swamped with massive fraud investigations.
Instead of the usual and normal "Epic Weekend at The Hamptons" often reported on Friday afternoons, the PigMen got the shaft:
However, note how the retail index barely sold off:
And the "safe haven" plays today were the mortgage insurers. No doubt, they will have their hand out in all the GS lawsuits:
And I suspect that Dollar General will be announcing a slew of new store openings on Long Island, Connecticut, etc.
And after the 2008 debacle, nobody, I mean NOBODY is going to take any chances of another stock market collapse.
Record volume today:
And note how bonds were bid up once again, the dollar was strong, as various Fed Heads started jawboning again about "exit strategies" and "asset sales".
A 300 point drop in the Dow is a virtual guarantee of driving down the 10-yr. yield to 3.5% and more "extend and pretend" schemes, scams, and programs can be financed indefinitely if another crisis occurs.
It's all part of the "Wash, Rinse, Repeat" cycle ad infinitum.
Yes, it is all getting very tiring....