Before I dive into the madness, sit back, take a deep breath and listen to Howard Stern interview Jim Carey for an hour. Instant classic. I grew up sneaking into Toronto comedy clubs watching Jim do impressions when he was 14.
ok…
As Japan picks up the baton on ‘Quantitative Easing’, the US scorecard that the fed and Obama will point to stands like this:
So final score on QE: Stocks at all-time highs. Unemployment below 6%. Gold at 4-year lows. Inflation non-existent.
— Joseph Weisenthal (@TheStalwart) October 31, 2014
But, everyone is mad.
Mad at Capitalism, Corporations, Ebola, Congress, their boss, the FED, Shittybank and this bull market.
As the wealth discrepancy widens, so does the communication gap it seems. The kids have Snapchat and the old people have Fox News and CNN. Old people are going to be old. Corporations mostly suck. It’s a profit bubble and you are just an ‘icon’ tweeting at a customer service person on Hootsuite.
The reality is – The Fed opened the spigots and the cash moved from a printing press onto corporate balance sheets. You will see it when they feel like it or you do something smart to cut them. Like Drago, they can be cut.
The global monetary policy experiments on global markets is starting to break the textbooks. The last month has sent markets into a new wierd zone. Here are some charts:
$SPY this set up, individual stocks > indices http://stks.co/h1FcM
— Frank Zorrilla (@ZorTrades) Nov. 2 at 04:43 PM
In past 2 weeks, went from extreme low in new 52-week highs to extreme high. Going back past 20 yrs, unprecedented. pic.twitter.com/RFFmf4UpOS
— Charlie Bilello, CMT (@MktOutperform) November 1, 2014
We've never seen a spike above 30 in $VIX move back below 15 as fast as the past 2 weeks. Everyone loves short vol. pic.twitter.com/tfedgjoMMS
— Charlie Bilello, CMT (@MktOutperform) November 1, 2014
The airline index moved 40 percent in October…from a bull market to a bear market and back to a bull market …30 freaking days:
They don't teach you about moves like this in textbooks b/c there's almost no precedent. Unbelievable V in Airlines. pic.twitter.com/FYhBGBp0Gj
— Charlie Bilello, CMT (@MktOutperform) November 3, 2014
As for opportunity, this market has been ripe. I took this trade with Kimble and posted it on my blog in detail as it was happening on October 15th:
Huge Bullish and Bearish Wicks today! Emotional turn arounds? $SPY $TLT http://stks.co/e17nu
— Chris Kimble (@KimbleCharting) Oct. 15 at 01:37 PM
It’s ok to do nothing or read a lot if you are confused, but like always do not read anything from an economist.
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