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How (& Why) The Dow Just Closed Barely Green For The Year
The Dow Jones Industrial Average closed today at 17,824... exactly 1 point higher than the close at the end of 2014 thanks to a sudden urgent need to sell VIX protection (because with tensions between EU and Greece at its highs, who would want any hedges into the weekend?) and bid the Dow straight up 20 points in the last minute... here's why..
Because when 'mom-and-pop' watch the news tonight and see a higher unemployment rate and that stocks closed red... there needs to be an angle to explain why everything is awesome and the crisis has passed...
Mission Accomplished... The Dow Closed The Week Up For The Year...
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ahah rofl fundamentals...
From absurd to boring
How? Our money. Why? Because...awesome!
no!!!
manipulation you say?????
just think ....such a blatant feat of magic would have been unpossible 20 years ago.
i met obama once
he reached behind my ear and said 'look! i have your freedom...' then he waved his other hand in front of it and said 'and its gone...'
And while he was distracting you with that hand, where was the other? Or do we want to know?
Are you sure he didn't pull a rabbit out of his ass ?
More likely a gerbil...
"Because when 'mom-and-pop' watch the news tonight"
Brian "Helicopter" Williams?
I've made sure that my mom, pop, sisters, etc... all know that it's a scam. Let them watch the news.
They will placate you, think you are crazy (to themselves) and then still have the same programming. It is a worthless enterprise...even if you love them. Better time can be spent planning your own escape.
I heard Brian Williams was in the North Tower on Sept. 11th, managed to rappel down the side to safety...
He single handedly saved the Titanic.
Oh, wait...
with 5 or 6 office workers under his arm
You can also see him in that Tapei plane crash, he was hitch-hiking on the highway and had h=just walked past the place where the wing clipped the barrier..
I heard he rode a tank when the blitzkrieg raged and the bodies stank...
LOL
Weird Al needs to rewrite that whole song for him. Somebody get him on the line, stat!
When will this horror show end? Need to make more popcorn.
I was drawing pictures for a while, but yeah, now I'm getting bored.
pic didn't show up. bah, nvrmind.
When you need the algo sharks to do a feeding frenzy you chum the water with VIX.
And hope the big hitters take a confident big swing.
Just short-term overbought technicals with traders closing out their positions before the weekend.
You know every night I go home and tell my wife, "hey honey, the DOW closed green, let's go out and celebrate."
Because the DOW closed green I think the $20 in my pocket is worth more, so I go out and spend it. Conversely when the DOW closes red I think the $20 in my pocket is worth less, so I keep it there.
With the stock market going up, I think EVERYTHING IS AWESOME, so I think about buying new furniture and cars. Hell EVERYTHING is so awesome that I go out and buy a new house. When the stock market goes down, I put those plans on hold. If only the stock market would go up forever, I'd spend every dime I make every day.
IS THERE ANYONE ON EARTH OUTSIDE A .1%er WHO THINKS THAT WAY?????
I mean if you have $1 billion invested a 1% move higher is enough to buy a new Yacht. Losing 5% is quite a chunk of change, more money than an average person will every make in their lifetime. Ending the stock market is just about the most ethical proposition in history. It needs to happen.
you'll get your 5 seconds of fame when yellen quotes you
RE
LOL - I don't see the difference between bragging about stocks like this to a wife, or saying alternatively, "Honey, guess what? I bet a $100k prop than Danny Amendola of the New England Patriots would catch their first TD of the second half at 20-to-1! Looks like we're going go to Aruba!"
When the DOW closes red I know my neighbor stops at the bars to get drunk. This gives me time to bang his wife.
Dow green YTD and red on the day. Should I spend that $20?
There are enough dumb poor people who actually feel like this to make the theory hold.
bonds had a bad day ... looking forward to next week's MBA mortgage application index for this week ... the beat down on refinance should be fun
so glad commercial banks have taxpayer backed prop desks to generate revenue rather than, uh, traditional bank revenue ...
Higher wages and employment is actually bad for a NeoLiberal economy.
If Treasury yields climb next week the way they did this week, stocks next week will throw another Taper Tantrum
S&P futures now +.25 #winning
Despite the massive rally all week, UVXY didn't budge. I want a black monday and a 5k point drop next week with Greece saying FUCK YOU EU!!!
I was just listening to ELO's "Telephone Line" last night!
Apparently I should have added "Strange Magic" to the mix.
Goldman was caught using a Trojan Horse.
Insider trading is illegal.