7 Come 11 Apr Eco Calamity: Sucked Air Rotation/FOMC at the mouth
HFT front runs the market this week on the downside, as another five percent beating lays in store. The fundamentals are laughable, the slightest tick in the wrong direction sends the nano second plunderers off to their software shell game, and the market, filled with pundits spouting nonsense, turns into a open and notorious roulette board. GOOG and PCLN are on their way to 10% corrections early on, maybe 20% before the end of month. Bad news is bad news, good news is bad news, the excuses are already primed, and the FOMC at the mouth minute meetings Tuesday will not help. If claims jumps, it's bad, if claims falls, there goes QE, it's bad. Just as you think you can come up for air, the HFT phantoms strike micro flash crash style. Construction jobs were up last week tho, just what we need, more houses to supply more glut to come, just when housing is about to take a whammy next year due to irate increases postulated by Madame Fed Chairman Yellen Rate Popper the 1st. Got cash?
One good thing about paper money, it's soft under your mattress. Gold and silver are lumpy. GLWT
Apr 7 3:00 PM Consumer Credit Feb - $13.5B $14.3B $13.7B -
Apr 8 10:00 AM JOLTS - Job Openings Feb - NA NA 3.974M -
Apr 9 7:00 AM MBA Mortgage Index 04/05 - NA NA -1.2% -
Apr 9 10:00 AM Wholesale Inventories Feb - 0.6% 0.5% 0.6% -
Apr 9 10:30 AM Crude Inventories 04/05 - NA NA -2.379M -
Apr 9 2:00 PM FOMC Minutes 3/19 - - - - -
Apr 10 8:30 AM Initial Claims 04/05 - 325K 325K 326K -
Apr 10 8:30 AM Continuing Claims 03/29 - 2850K 2843K 2836K -
Apr 10 8:30 AM Export Prices ex-ag. Mar - NA NA 0.6% -
Apr 10 8:30 AM Import Prices ex-oil Mar - NA NA -0.2% -
Apr 10 10:30 AM Natural Gas Inventories 04/05 - NA NA -74 bcf -
Apr 10 2:00 PM Treasury Budget Mar - NA NA -$106.5B -
Apr 11 8:30 AM PPI Mar - 0.1% 0.1% -0.1% -
Apr 11 8:30 AM Core PPI Mar - 0.1% 0.1% -0.2% -
Apr 11 9:55 AM Mich Sentiment Apr - 81.0 81.0 80.0 -
I really do not think anything on you list caused this sell off in the indices
after a two day bogus rally on FOMC minutes, profit taking must have caused panic.
stampedes happen, the cowboys do not know in which direction beforehand.
don't drink downstream from the herd.
Sucked air rotation gets a reprieve, as the NAS recovers, JOLTS shows somebody is hiring out there in Micky D land, but it's more retail workers and clerks. Today the world will slather over FOMC minute meeting notes a month old as if playing the same movie over results in a different ending. Don't try to reason with the 2PM bumble Wednesday 9 Apreeel--just watch the dots and spots as the FOMC meeting notes beat to death in real time last month, get to replay the same DVD, not a sequel, no easter eggs, no alternate endings.
Speaking of spot, watch silver take another two percent ride to the downside as somebody is out there voting for paper dollars, which as you know have an industrial side, if you run out of Charmin.
Alcoa had a blowout, and that has been a bullish traditional sign since black and white TV. I suspect we'll be up in the morning, down by 2:30, and finish a few points up all the indexes.
Don't knock it, a 1/4% today amortizes to 62% in a year. Don't tell the analysts, they can't do 4th grade math.