Dow Hits 23,000 - There's Just One Thing

Just four weeks since The Dow crossed 22,000...but thanks to Goldman, Boeing, Caterpillar, 3M, and JPMorgan (accounting for over 500 Dow points), the mainstream media's favorite index just topped 23,000 for the first time ever...

 

With the Top 6 names driving 50% of the index's move...

 

However, it seems options traders ain't buying it...

If everything's so awesome... why are investors buying Dow protection with both hands and feet?

As retail piles in, so professoinals are hedging to extremes.

 

Finally - for good measure - 'Industrial' Production remains well below 2014 highs... but the 'Industrial' Average is soaring...

Comments

Endgame Napoleon giorgioorwell Tue, 10/17/2017 - 14:24 Permalink

He is taking some credit for it right now in a press conference with the Greek PM, like all presidents take credit for anything good that happens on their watches, although — note — the stock market just further enriches those who take it all in America.

Underemployed America—less the citizen and noncitizen parents whose rent and groceries are paid by taxpayers, with a $6,269 child-tax-credit cherry on top—wilk continue to struggle to finance unaffordable rent, even if the stock market makes a billionaire out of every “working family” in the top 20%.

It is good that Trump took up for the Greeks, who get bullied by all of Europe, even though they invented democracy and contributed a ton to art. I am glad Trump did that. It seems like Greece used to get by fine. Maybe, they weren’t an economic powerhouse or the best financial managers on the globe, but they were able to navigate their own finances better before joining the EU.

In reply to by giorgioorwell

Bemused Observer Bill of Rights Tue, 10/17/2017 - 12:29 Permalink

A 'following'...I guess there are some ZHers who have a following. But the word always reminds me of hairdressers. When I see help wanted ads for hairdressers, they always say "Must have following".I thought on it a bit, and wondered about this job offering where you actually have to bring your OWN clientele. What IS this nonsense? If you were a hairdresser so good that you had regular customers who follow you around, then why the fuck would you NEED that lousy job? You could 'do' them at your kitchen table and NOT have to split the proceeds with a salon. A salon that apparently cannot even attract its own customers...

In reply to by Bill of Rights

Byrond Tue, 10/17/2017 - 11:49 Permalink

The faster it goes up, the sooner it goes down. Many people in the know are surely waiting eagerly for the exciting times ahead when the changes occur. Right now it's all pretty boring. The elite found out how to get most of the wealth, but they want more, so they have to cannabilize to get more and more. Remember, when you're at the top, wealth is relative. Calamities that ruin the majority can result in vast prosperity and power for those at the top. 

Manipuflation Tue, 10/17/2017 - 11:56 Permalink

A few years is nothing.  Here is my BTC blockckchain wallet.  One cent.  Show me.  Just one cent.  It is not hard to figure this out.  Come on bigshots lets trade a penny.  What?  Not so smart now?  Otherwise, shut the fuck up.  Your blockchain is compromised.   123Yy6pk716dMtS12h72JqFsh1RfHAQFGt                                                              

RationalExuberance Tue, 10/17/2017 - 12:03 Permalink

This "protection" that investors buy has this thing, called "delta", and this delta is negative -- which, when the street hedges the trades, creates a downward pressure on the market. And as long as people are silling, there is still room to move up. 

Seasmoke Tue, 10/17/2017 - 12:17 Permalink

Only 13,000 away from my Dow 36,000 prediction from years ago. I'm feeling so smart today. If I just ignore I'm 95% invested in Gold !!!!