Twice this week , futures up 150 pts before the openings , for a market that is running on the absurd. Declining earnings, declining growth and declining volume as the market goes to new highs day after day. I hope some of these clowns get it handed to em !
So scared to raise rates 1/4 % , and just keep coming up with one excuse after the other. Japan in the making. Been saying it for years. They still can't figure out that zero rates do nothing and they are supposed to be the smartest people in the room. They probably are if they are in the room with King O !
All morning the dow and naz kept showing signs they might go positive, and The Russell was trading in the green. Whoops ! There is a lot of white area to the downside when looking at the charts. Earnings were dismal, outlooks even worse and the market ignored it all, racing back to the highs. How long can it trade against reality ?
Traded like this last qrt but couldn't hold the gains. One day pop and then back down. I sold some yesterday at 12+ at the opening , but was gone all day. Couldn't believe it pulled back that much on the big volume. Maybe with the news it can get back above 12 and hold , since it closed the big gap from the opening already
I used to trade this a lot and do pretty well, but lately the only time it moves is when they report earnings, and then it just sits there for 3 more months. Used to have good swings, so now its just a hold instead of a tradeable
Have we seen the market go up , and keep going up, just because it can. I've been saying it along time, that earnings don't matter anymore, if they ever did . They have lowered estimates time after time, then they spin it, that its all bout the future and 6 months out. Then when the 6 months get here the earnings estimates have been lowered to meet the agenda. Earnings have been going down for a year , and this quarter might be the worse, but the market is marching back to new highs. 6 weeks ago we were going into a recession, now everything is just rosy again. S&P pe's are high, earnings are low , yet the market goes up everyday, everything except klic of course. How long can it last this time ?