Investing

[Screwball]

Issues with mine too. As off 10:46.

[Screwball]

Always interesting to watch the futures after a long holiday weekend. We are also now into what they will call the Christmas rally time of the season. I'm sure Jim Cramer may bring it up next week, or Bubblevision in general. If someone can stomach to watch long enough to see if that is true, please report in. 🙂

Chart porn, and once again back to the 10/10 candle. The market is a traders dream - volatility - cha-ching. 3 month chart by day of the S&P.

Nice little profit in only five trading days, but if you stayed long over the weekend and can't do squat until the market opens on Monday morning... For those who play the market this way, they are taking quite a risk over a long weekend. Which is why many of them go broke before they get rich and live on their own island. And there is nothing worse than watching things take a **** and can't do anything about it.

So what's the market look like on this fine Sunday night?

Not too far above these levels are the all time highs. Which way do we go? 

ON EDIT: The futures market (chart above) is the cash market. The S&P is the index. They trade the futures market (you need a margin account with a brokerage) so what they call the e-mini (S&P futures) is a more accurate visual of what is going on with the money than the index.

 

Edited Monday at 02:11 AM by Screwball

[Deleterious]

He is nominating Screwball for Fed Chair.

 

[Screwball]

26 minutes ago, Deleterious said:

He is nominating Screwball for Fed Chair.

 

I would make Paul Volcker look like a piker. 🙂 There would also be an immediate market crash. 

I have not followed close, but odds of another cut next week? Looks so. The news tomorrow might be the Hassett guy for the next Fed chair starting in Feb?, a dove who wants to lower rates. He's only one vote, but they work for the bankers so it don't matter anyway. He's just the head of the bull**** machine.

I don't know that the Fed deserves as much blame as they get, given congress has to spend the money to be monetized. At the same time, they are a bunch of bull**** artists presented as experts. I worked with a guy who's son worked for the Richmond Fed. He told me about some of the research projects he worked on. They really do good stuff when if comes to collecting data, but they have proven to be quite inept at their two mandates. 

If the economic numbers, which they have, were properly evaluated, they tell a much different story than the numbers the Fed uses to make their decisions. They should know that - and they do - and don't care. 

[Screwball]

Speaking of Paul Volcker, I watched some old clips of him in front of congress years ago. It wasn't pretty, or fair. He made them look like fools. Dude was a smart guy. There isn't too many people who could carry his jock strap.

Another was in 2010/2011 after the banksters blew up the world (in 2008/2009) and congress decided to bring them all in to explain. From Jamie Dimon of JPM, Lloyd Blankeinn of GS, on down the list of about 8 CEO's of Wall Street's largest banks. Hilarity ensued. The banksters exposed these idiots for the worthless frauds they were, and it wasn't even close.

A Robinhood day trader could have asked better questions. And of course, if by chance, one of them did (and some (not many) ARE capable) they get shut down pronto - because we can't have that.

Edited yesterday at 03:56 AM by Screwball

[Deleterious]

 

[Screwball]

Another interesting chart. Incoming chart porn. I'm not sure what's driving this. Silver is on a real tear, especially since the low back on September 4th of $41.065. Hit a high of $59.47 earlier tonight, but has given back a touch of that.

A three month rip of about %45. Cha-ching!

Compared with gold (purple line). 

They usually trade similar. I wonder if some of this money is coming from crypto?