Market opened in the tank so I was well up. Made sense given the inflation report
Just checked. Market is now way up so I am not.
What happened?
None of the "experts" seem to be speculating.
Chief Investment Strategists at large investment banks which most often today are subsidiaries of larger commercial banks do not tend to make emotional decisions. Chief Investment Strategists cannot make emotion decisions. There are share holders. Chief Investment Strategists have to be able rationally say why this or that strategy occurred. Wild swings are not due to mutual funds.
Wild swings are certainly not due to indices. Indices simply copy the best mutual funds.
Could enough day traders in sweat pants move markets on a coordinated manner in million or so different accounts at a dozen or so discount brokerage firms. I doubt it.
For nearly 100 years, U.S. presidents on days in which there may be significant equity selling have called the wealthiest U.S. citizens and asked them to buy. This occurred in 1929. Do I know if this occurred today? I don't. When that type of buying occurs, days or weeks later, the wealthy men eventually sell some of the favor buying days or weeks later.
This type of buying often occurs when president of N.Y.S.E. calls market makers and tells them to buy. Do high ranking members of U.S. executive branch call president of N.Y.S.E. and say I need buying? Yes.
Something went on today.
Inflation report came in and triggered sell-off.
Then the market suddenly began going up and up.
I am pissed as I was up $10k plus at opening and ended down $8k at close when I had every reason to think this would be a good day for me.
I do think the market was artificially pushed up thru the day and that we will soon return to the recent downward trend
Strap on the lap belt and both shoulder harnesses. A wild one has rolled over seas. I guess mainland China, Hong Kong and Japan are celebrating "only" 8.xx% U.S. inflation.
As I type: Shanghai Composite (mainland China), up 1.58%, Hang Seng (Hong Kong) up 3.33% and Nikkei (Tokyo, Japan) up 3.44%
Strap on the lap belt and both shoulder harnesses. A wild one has rolled over seas. I guess mainland China, Hong Kong and Japan are celebrating "only" 8.xx% U.S. inflation.
As I type: Shanghai Composite (mainland China), up 1.58%, Hang Seng (Hong Kong) up 3.33% and Nikkei (Tokyo, Japan) up 3.44%
I guess that the high ranking member of the US executive branch made some overseas calls as well. I mean, as well as the ones they made to the president of the NYSE.
applied economics ) wrote:
For nearly 100 years, U.S. presidents on days in which there may be significant equity selling have called the wealthiest U.S. citizens and asked them to buy. This occurred in 1929. Do I know if this occurred today? I don't. When that type of buying occurs, days or weeks later, the wealthy men eventually sell some of the favor buying days or weeks later.
This type of buying often occurs when president of N.Y.S.E. calls market makers and tells them to buy. Do high ranking members of U.S. executive branch call president of N.Y.S.E. and say I need buying? Yes.
Strap on the lap belt and both shoulder harnesses. A wild one has rolled over seas. I guess mainland China, Hong Kong and Japan are celebrating "only" 8.xx% U.S. inflation.
As I type: Shanghai Composite (mainland China), up 1.58%, Hang Seng (Hong Kong) up 3.33% and Nikkei (Tokyo, Japan) up 3.44%
I guess that the high ranking member of the US executive branch made some overseas calls as well. I mean, as well as the ones they made to the president of the NYSE.
applied economics ) wrote:
For nearly 100 years, U.S. presidents on days in which there may be significant equity selling have called the wealthiest U.S. citizens and asked them to buy. This occurred in 1929. Do I know if this occurred today? I don't. When that type of buying occurs, days or weeks later, the wealthy men eventually sell some of the favor buying days or weeks later.
This type of buying often occurs when president of N.Y.S.E. calls market makers and tells them to buy. Do high ranking members of U.S. executive branch call president of N.Y.S.E. and say I need buying? Yes.
Pretty sure this is an all clear signal. The future is crunk.
Strap on the lap belt and both shoulder harnesses. A wild one has rolled over seas. I guess mainland China, Hong Kong and Japan are celebrating "only" 8.xx% U.S. inflation.
As I type: Shanghai Composite (mainland China), up 1.58%, Hang Seng (Hong Kong) up 3.33% and Nikkei (Tokyo, Japan) up 3.44%
I guess that the high ranking member of the US executive branch made some overseas calls as well. I mean, as well as the ones they made to the president of the NYSE.
applied economics ) wrote:
For nearly 100 years, U.S. presidents on days in which there may be significant equity selling have called the wealthiest U.S. citizens and asked them to buy. This occurred in 1929. Do I know if this occurred today? I don't. When that type of buying occurs, days or weeks later, the wealthy men eventually sell some of the favor buying days or weeks later.
This type of buying often occurs when president of N.Y.S.E. calls market makers and tells them to buy. Do high ranking members of U.S. executive branch call president of N.Y.S.E. and say I need buying? Yes.
Water eventually finds its level. President Hoover calling J.P. Morgan and some other whales only did so much. It got worse in 1931. All the whales can do is give the markets some extra days or some extra weeks. Frankfurt will open in about 90 minutes. Historically, the correlation with European markets is stronger than correlation with Asian markets (for U.S.). I already stated (15 to 20) hours ago: S&P 500 will test 3600 again this year (that's 360 for owners of SPY shares).
The Commerce Department released new retail data on Friday morning, revealing how consumers have responded to rapid and stubbornly high inflation in September.
So up in August and unchanged in September…aka “remains high”.
Pretty much so.
From a Yahoo Finance stock market news:
"On the retail front, shopper spending was flat in September amid high inflation and climbing interest rates. Retail sales, excluding gasoline, were up 0.1%. The measure doesn't adjust for inflation. Economists surveyed by Bloomberg called for a 0.2% gain in retail sales. "The high inflation environment is weighing on consumer morale and purchasing power, and it is forcing many households to dip into savings and use credit to finance outlays," EY Parthenon Chief Economist Gregory Daco said in statement. "While consumers remain willing to spend, many families, especially those at the lower-to-median end of the income spectrum, are feeling increasingly constrained by elevated prices and rising interest rates," Daco added."
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