The Straight And Narrow

Tyler Durden's picture

It seems not only is the "market" adhering to the lower-left-to-upper-right mentality of newsletter-writers a little too literally but it it would appear we have found the limit of Birinyi's ruler... Behold the Dow Jones Industrial Average on the straight-and-narrow. Because, when there's no dip to buy, you BTFATH...



Chart: Bloomberg

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HedgeAccordingly's picture

Just close your eyes and buy.. this market is a gift if on the right side.... All money is green right? 

Chris Jusset's picture

This chart is labeled "The Dow."  Tyler should next show an identical chart and label it "The Bubble."

MichiganMilitiaMan's picture


Buy The F*&%ing All Time Leveraged Highs!  BTFATLH.

wee-weed up's picture



What do you mean?...

Trees don't grow up to the sky???

Oh, noes!

Dr. Engali's picture

Just watch out for that first step down when this thing vaporizes overnight, because it's a doozy.

disabledvet's picture

from "What's up Doc?" to "what's down." Now it's "Dow Theory" as the prop. Next up "acting classes" and "Pretending."

El Vaquero's picture

Yeah, but how big of a step down will it take before we can say "Margin call, BITCHES!" in earnest? 

DaddyO's picture

It still has a ways to run, just stand by...Yellin will print to the moon!

Almost makes me want to open an account and run baby, run.

But you're right, when the worm turns it will be swift and horrific.

No sanctuary from the storm, hedge accordingly.


El Vaquero's picture

I wouldn't touch the market with a 10' poll.  That's my hedge.  I figure that since I'm not an insider, I'd eventually wind up with some banker cock inside me.  No thanks!

DaddyO's picture

That happened to me in the early 2000's, I was comfortable trading things I knew like OJ, Oil and buying and fixing up older homes, something I had been doing for years.

I got cocky and started venturing into corn and beans and got my head handed to me. Tightened up my trading to recoup some of the losses and when I got back to even, closed all my accounts and started investing in my local market. Been doing ok ever since.

The markets are a fool's game today and I've discovered I'm no fool!


Conman's picture

OMG its a bubble. Remember the tulips and stuff? Oh wait this isnt a bitcoin thread? Woops.

locklimit's picture

Visa, the biggest component of the Dow, symbolizes everything that is wrong with this market.  An overpriced stock based on any P/E rational, complete destruction of cash on its balance sheets after buying back its own shares at all time high prices, Execs who have HUGE incentive payouts (which dilutes current shareholder value when issued), and a growth concept that cant possibly hold the test of time even if every person on earth uses nothing but credit cards.  Oh and did I mention that they are nothing more than a middle man, hated by corporations and individuals alike?

nickels's picture

Somebody tap on that TNX gauge-it looks like it's reading "3"

NOTfromSanFrancisco's picture




That TNX level was enough to convince me to move to safety today. If I was wrong, then I may change my mind after the first of the year... Maybe...

Clowns on Acid's picture

What would Descartes do ?

I think the Fed is long equities.... therefore I am long equities....

fooshorter's picture

Work of art. 



Black Forest's picture

That ugly scatter offends my eye. Couldn't the FED intensifiy their valuable work and keep the index on the nice green line?

Dr. Kenneth Noisewater's picture

A volume graph underneath it would be nice.

Skateboarder's picture

It's there alright; you just can't see it with the naked eye cuz it's all HFT.

Dig Deeper1's picture

Just take a sec to walk around and view the same chart from behind.  It illustrates volume perfectly.

Oldwood's picture

OK. For everyone out there just waiting to see this shit come crashing down, I have a proposal. I will buy back in and I guarantee I will crash it. All I need is some of you to back my losses. $100k. Come. I can do this. Remember silver? I bought at $37. My first time. Just a week before it started it precipitous fall. Where are we today, $19+? I have never, in twenty years of bashful investing, ever bought in at anything but the very fucking top. I got out at 10,000 approximately and it almost immediately took off, and its 16,3?? today. I can do this, but I just can't afford to do it alone. Lets do it together.

NOTfromSanFrancisco's picture





You crack me up!...

Oldwood's picture

The really sad and fucked up thing is that I don't think I'm ever getting back in, so that means the stock market may never "correct". "To the Moon Alice!"

spinone's picture

So you instinctively pick tops.  When you feel like buying in, short.

q99x2's picture

GDP = The FED's computer that runs the algo.

Arrest Janet Yellen for not curbing her St. Bernanke.

new game's picture

folks; i just cant do it -btfath, i'm sorry but i CAN'T doit..

my sincerist apology!

orangegeek's picture

Dow Jones daily from the 23rd

Volume was in the tank on the 23rd.

Today was worse.

Could see a reversal tomorrow.

Surging Chaos's picture

10 year closed at 3%.

It feels like the big bad meltdown of interest rate swaps is just around the corner.

El Vaquero's picture

Unless crashing stocks makes investors flee to "safety." 

Ned Zeppelin's picture

Fed will halt anything that harms the TBTFs. Us, not so lucky.

Ned Zeppelin's picture

This brand of Madness made its first very public appearance in 2008 and it has overstayed its welcome. As an unwelcome guest, it stays until it is thrown out the door to the street.