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Don't Believe The Hope
If there is one chart that tells the 'truth' about the US equity 'market' it is this. Not only has breadth collapsed back to Black Monday lows (despite elevated index prices) but yesterday's exuberant rip higher diverged dramatically from a very significant drop (3 decliners for every advancer) in overall market breadth. Yes, it's Fed week, and OPEX, but the underlying support for the ponzi is waning rapidly.
Charts: Bloomberg
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MOOAAAAAAAAAAAAAAAAAAAAAAAAAAAAR
Sorry but we have no other choice but to believe the hype now. THey have mastered the game.
Pavlov would be so proud......
Bullish ! Buy ! Buy ! Buy ! (pukes on shoes)
remember when Goldman went beserk when one of their employees stole some software to influence stockprices back in 2008?
I think that little programm is working overtime. And all it needs to do is keep the prices up untill they unloaded everything on the baboons who believe the markets are going to the moon.
All that appears to matter these days is the willingness of the Fed and Treasury Department to continue propping up the market. Since they, along with the rest of the Central Bansters, have unlimited funds, what exactly is there to stop them?
A nuclear detonation?
Israeli Shepard proverb: 'You don't show the lamb the blade before the slaughter." If i had a Shekel everytime I referenced it. hehehehehe
Israeli Shepherd proverb: 'You don't show the lamb the blade before the slaughter." If i had a Shekel everytime I referenced it. hehehehehe
You'd have made two more today.
I wonder if it will follow the Great O'Mighty Dollar's trajectory.
That was way back.......yesterday, what about today?
At least Tyler called it a ponzi...
OT, but for all the MSM hopium-imbibers out there: when Brent was $39.75/bbl in Dec 2004, gold was $440/oz. So despite the "crushing" that Au has supposedly suffered - and even ignoring the 250:1 GLD-to-Comex phyzz ratio, gold still has 2 1/2 times the purchasing power it did 11 years ago.
My rant is done.
or, twice the height to fall.
Don't be surprised when gold hits $600/oz.
The system has a long way to fall, yet.
It's all good. Down is the new up.
The ponze lives on for another day with the Fed.
Another stat that ain't cooperating. In fact isn't this a new low for the BDI?
One day the underlying support will consist of Yellen yellling...print, Print, PRINT. In unison will the rowers down the Potomac.
...but...but...Gartman?
Desperate times call for desperate measures. Such a grand world when The Central Bank can buy S&P futures, the SPY, QQQ, even individual stocks. Doesn't matter which "CB" is doing it. Imagine for a second the ability to print and buy, print and buy. Take worthless Yen and buy real corporations. Take £,€ or $ and buy up ever
Eventually all the Central Banks will own everything corporate, government, and personal debt along with the entire stock market.
Hey Janet remember talking up ownership of equities for the surfs. How is that possible when all the CB does is inflate equities? How is that possible with zirp and nirp? How is that possible with part time jobs? Maybe they could take that extra $50 a month and buy a share of Amazon after a year of savings. Maybe after living in their parents basement for the next 20 years and paying off their student loans all those record breaking millenials can just be willed those homes. Maybe after paying for ACA everyone can pony up for a share of FB.
What a grand world it must be when you can print fiat for free and buy the world with it. For the rest of us not so much.
ponzi is waning rapidly did you buy a lotto ticket crayon HB