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And Behold, The Nasdaq Crashed.
Well, Wednesday turned into a rout on Wall Street, and there was no late-session stick save. In fact, the selling accelerated into the close, which means there was probably a systematic element to it.
As noted, the "slow bleed"/"death by a thousand cuts" narrative is taking hold as investors fret about late-cycle pressures, peak profits and the prospect of a looming Fed mistake that finds a data-dependent Jerome Powell hiking the economy into a slowdown.
In that linked post, we illustrated a v
Reality is finally setting in… long overdue.
You, RealVision and Charlie McG saved me $450,000. My heartfelt thanks.
So the S&P and NASDAQ are at roughly the same levels as December 2017. Did anyone think those indices were cheap then? Why should the Fed change policy?
That is, unless ‘free-market capitalists’ don’t like two-way markets and want to be spoon-fed mother’s milk (to egregiously mix metaphors). Why not just have the Fed buy the dip and be done with all pretense? I mean, 2.25%! Teh insanity!
Obviously the baboon occupying 1600 Penn. Ave is clueless how global economics impact securities. We have seen it for years that major events like the Japanese tsunami to the Greek debt crisis reverberating around the globe. So if you are threatening a trade war across the global economy the multi-nationals will take hit. Kevin Muir’s latest piece reiterates that within the interconnected economy the US is not an island. Oh, and yeah keep an eye on the bid to cover ratios on the treasury auctions. Stupid baboon.
They’re certainly cheaper now than they were at the end of last year
H. words and the research on my part that followed helped me to take a contrarian leap before the big Feb dip. Good stuff; in a rough world.