Just the standard new highs for a US holiday, has to be. Another Fed mandate I'm sure. The feel good, spend money on credit thingy:-).
Oh but they have a term for the indexes being at highs, it's called sector rotation:-). Funny how oil, industrials, miners, pharma, healthcare, all tanking yet indexes at highs! Care to do the math and even begin to understand how indexes can be at all time highs?
Don't you now it is a law now that the stock market has to be at all time highs for a holiday? Regardless of anything, stock MUST be at highs!
All planned in advance, has nothing to do with real trading, fundamentals, terrorists, earnings, lack of earnings, nothing matters except the endless interventions by central banks in the markets.
The Fed's Jihad on gold and gold stocks continues! Ain't it funny how GDX tanks whenever indexes soar higher but oil stocks aren't down like crazy because oil prices collapsed. Oil is down 60%, gold is down 40% from all time highs yet gold stocks are trading at all time lows while oil stocks are barely down 15-20% from all time highs!
No problem though, I'll just buy more physical gold and silver.
But only when the Fed is buying of course. That is all they talk about in the media for almost 7 years now, the Fed this, the Fed that. I wonder what would happen if the Fed just stepped away:-).
I'm just waiting for the attack on gold so stock indexes can soar higher. We will be up big again tomorrow for sure, this is all the Fed's doing, no real buyers in this market.
It was up last night and then the NY Fed tried to hammer it this morning but tat didn't work out. Physical demand is through the roof!
Most people in this country have no clue what health insurance costs now and all of the politicians who "voted" for this law have no clue how much premiums are and how lousy the coverage is because they get their insurance for free and it is top of the line. Anyone in government/civil service gets THE BEST there is with no deductibles or co pays and they pay nothing for it!
Now.....the rest of us who have to buy insurance are paying 4 times the price from 10 years ago and get way less coverage. I was able to buy Blue Cross for my employees for $170/month with no deductibles or co pays 10 years ago. Today a bronze plan with $2500 deductible, up to $6600 out of pocket because of co pays costs over $500 per month! Family plans are even worse, $6000 deductible, up to $12700 out of pocket and the premium is over $1300 per month. You have no insurance until your deductibles and out of pocket are met and you pay $15,000 a year for that! You could line up with $27,000 in cost in a calendar year and then it all resets again!
You tell me who can afford that? People making $8/hour? Even if you make $50,000 a year, you can't afford insurance! Where do all your premium dollars go? You guessed it, right in to the Wall Street casino! We pay 4x more for insurance that Germany or Japan does and you tell me why.
You need not wonder why no one can buy a house, health insurance costs more per year than a $300,000 house does!