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Stocks are rallying "and they should" according to CNBC's Bob Pisani... but nothing else is playing along.
Charts: Bloomberg
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It's a Christmas miracle.
To be fair to gold it looks perky too, must have turned the sell algos off for Xmas.
Bob Pastrami in 2003 when gold was trading around $350..."Trust me, folks, gold is going nowhere."
Got to love contrarian indicators. Works on the sheeple. Line up to be sheered.
God bless us all each and every one of us
Gata wonder what the holiday bonus payout is for the open market operations operatives. Gata be in the millions per.
If yesterday was Horrible, today has to be Great..
Not even my Girlfriend flips Moods that Fast.
Happy days are here again! Hooray! Hooray!
:-/
The fed has to protect that 2000 level. Surely not fundimentals buying this market.
Interesting when Karl Denninger stated on USA Watchdog a few weks ago that the FED had to raise interest rates to protect the insurance and pension funds, whose reserves were dependent largely on bonds, and needed higher rates from here forward to support their projections. (although it would seem that lower rates make the long term bonds they already hold more valuable.)
I was thinking , the pensions and insurance companies also have a bunch of dough in stocks, so these need to be protected as well. Hence , defend S&P at 2000 at all costs.
Easier for the FED to print more stealth QE and make up the .25% increase than direct bailout of insurance and pension industry?
Who would be buying stocks at this point? This is really silly.
I canno' give 'er moar than 177% of the tax revenues, Captain!!!!!!!!!!!!!
(oh, it was Star Wars this weekend wasn't it?)
Pisani. I expect him to run out one day into the middle of the floor with leotards and pom poms waving - "IT'S AWESOME, IT'S AWESOME!!"
Because that piddly .25 rate increase don't mean shit when the too large to jail banks have reserves out the ass. And it sure isn't going to stop the PPT, and who's to say government isn't just printing those notes without bothering with all the rigamoral of doing it the correct way? When's the last time government of the Fed has said anything truthfully?
Its not like Bob Pisani to mis-state the obvious. Weird.
The PPT will have packed a lunch today.
Nice.
limping into year-end like Pisani's limp dicked boyfriend
Gold double bottom
https://sasafuturestrading.wordpress.com/
Sheet. Where did that RALLY go ?