RICKSHAW MAN! wow ...good to see you back. Hope all is well. This thread is not quite the same without your posts. You are correct (you have been correct for a long time)....the Fed is the backstop for S&P, NASDAQ, DOW etc. Notions about jobs, economic data, inflation are bullshit. Free market also bullshit. If bad economic numbers, poor manufacturing, low consumer spending somehow slips out, this just causes them to work harder at propping (not allowing a normal repricing of equities in light of poor economy). They don't even bother to sneak the pumping during the middle of the night anymore....now they buy/pump/prop just before the open and through the day , right in the light of day, total lack of conscience....not even a hint
It's a long list of "precursor's" to higher prices. 1. OpEx week. Last count, probably 9 out of 12 of them were major squeezes higher into the third Friday of the month. 2. EOM (End of Month) into BOM (Beginning of Month) ramp jobs. Many swing turns occurred right around the first few days of the month...which leads to... 3. First Friday of Month Employment Reports. Even if the action leading up to it is bearish, who is going to risk being short with the overnight goon squad on the scene...which leads to... 4. "Rickshaw Market" (i.e.) our resident advisor on the perpetual overnight bid to "make things pretty" for the breakfast crowd...In "bullish phases" the drift higher is ever present. In "bearish phases" it sets the table for the slamdown selling around the NY open...which leads us to... 5. The Pre-Fed (FOMC) / the Pre-ECB / the Pre-BOJ "squeeze" which land throughout the month outside of the above squeeze catalysts...These are staged over a few weeks to make certain that if one of the consortium of "price setters" doesn't get the job done, the next in line can "make things right". In fact, sometimes the "get things right" will occur the following day when the market " gets it wrong" (See Mario Draghi, 12/4/2015). So if you can find a window in between all of the above "catalyst's" to major market squeeze's in bearish phases and the status quo in the low volatility bullish phases, please advise.
In JDST at $5.45....if gold makes its way back below 1200 on profit taking JDST is good for a 25%+ gain....
I think it is a buy -- I don't understand why it can go down further versus IBB. Yes, everything can fall, but on a relative basis, VRX:IBB should be a buy.
Yeah, it can always go further lol, but I agree I think there might be some potential there. A bounce at the least, but who knows. I kept the position relatively small in case I am wrong.
this exact thing happened in december post fed minutes, watch for the market to fall apart again once the quarter ends