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The Straight And Narrow
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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Just close your eyes and buy.. this market is a gift if on the right side.... All money is green right? http://hedge.ly/1aWnWdO
This chart is labeled "The Dow." Tyler should next show an identical chart and label it "The Bubble."
New phrase, this one's getting old, Now it's, Buy Tomorrows All Time High, or BTATH
Or-
Buy The F*&%ing All Time Leveraged Highs! BTFATLH.
What do you mean?...
Trees don't grow up to the sky???
Oh, noes!
Just watch out for that first step down when this thing vaporizes overnight, because it's a doozy.
from "What's up Doc?" to "what's down." Now it's "Dow Theory" as the prop. Next up "acting classes" and "Pretending."
Yeah, but how big of a step down will it take before we can say "Margin call, BITCHES!" in earnest?
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.
DaddyO
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!
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!
DaddyO
OMG its a bubble. Remember the tulips and stuff? Oh wait this isnt a bitcoin thread? Woops.
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?
Somebody tap on that TNX gauge-it looks like it's reading "3"
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...
What would Descartes do ?
I think the Fed is long equities.... therefore I am long equities....
Work of art.
That ugly scatter offends my eye. Couldn't the FED intensifiy their valuable work and keep the index on the nice green line?
A volume graph underneath it would be nice.
It's there alright; you just can't see it with the naked eye cuz it's all HFT.
Just take a sec to walk around and view the same chart from behind. It illustrates volume perfectly.
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.
+1...
You crack me up!...
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!"
So you instinctively pick tops. When you feel like buying in, short.
GDP = The FED's computer that runs the algo.
Arrest Janet Yellen for not curbing her St. Bernanke.
folks; i just cant do it -btfath, i'm sorry but i CAN'T doit..
my sincerist apology!
Dow Jones daily from the 23rd
http://bullandbearmash.com/chart/dow-jones-daily-day-time-high/
Volume was in the tank on the 23rd.
Today was worse.
Could see a reversal tomorrow.
10 year closed at 3%.
It feels like the big bad meltdown of interest rate swaps is just around the corner.
Unless crashing stocks makes investors flee to "safety."
Fed will halt anything that harms the TBTFs. Us, not so lucky.
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.