Tapping The Brakes

The doves were out Monday, and not a moment too soon for US equities which, despite a rousing two-day surge for the Nasdaq 100, were nevertheless relieved to close the book on a truly forgettable January. The Nasdaq Composite came into the week on track for its worst opening month to a year in history. By the end of the session, the gauge was 3.4% higher, a ridiculous rally that spoke (rather loudly) to my weekend warnings about the perils inherent in pressing bearish bets with so much dry kind

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4 thoughts on “Tapping The Brakes

  1. H-Man, this entire scenario on hikes is liking watching the tide — it comes in, it goes out, it comes in, it goes out. It seems like March 18th is a few light years away. Meanwhile, back to watching the tide.

    1. But every few years there’s a major earthquake on a nearby (or far away) subduction zone, and then a major tsunami washes several miles inland and causes unbelievable destruction.

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