Interesting things happening in the markets. We’ve had a dozen or so of these flare ups over the last few years so we’ll see how this one goes. But it’s definitely one of those times where brokers aren’t going on vacation.
Cramer drives me nuts, but we can say the guy has seen a lot of market movement (against him and for him) over many years. This is what he had to say about tech stocks this morning.
For the record the NASDAQ was off a little more than 1% at close today.
When I really started learning about high frequency trading about 5 years ago my general interest in the stock market as a vehicle for personal wealth creation diminished quite a lot. The 60 Minutes video which is attached will give you an idea why.
Take this with a grain of salt, but it is an interesting chart for sure.
(Alternatively just keep your head down and keep working hard, which is probably best.)
QE is failing. (It was destined to, as we have said many times.) They may be able to jack the system up again. That is extremely possible. But I think it it is equally possible that an alternative scenario plays out here.
Keep watching Japanese debt.
I am not saying this is the capitulation. Who knows? Frankly no one. But it’s time to pay attention if you have money in the market.
Looks like had Reid not changed the 200 year old Senate rules late last year Ms. Yellen might not have been confirmed. It appears that at least 40 Senators would have voted against her confirmation, but since there is no filibuster in this situation, 50% of the Senate can confirm the new Fed Chair as opposed to the 60% of past years.