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fell in the deep end, need life preserver
Mar. 21st, 2018 04:20 amSo as I lurch around the house this morning, groggy and waiting for the coffee to kick in, I wander over to the news sites to see what's going on. A 24 year-old man, apparently behind the recent bombing attacks in Austin, blew himself up and is dead. Looks like more fodder for the conspiracy web sites.
Trump has another woman claiming a past affair, this time former Playboy model Karen McDougal, who I must say looks quite fetching in her photos. Wow. I see a trend here, not unlike that of Tiger Woods when he took his fall. Curious on the timing - perhaps a diversion from all the turnover of Trump's staff?
Illinois now has a Democratic billionaire running for Governor. (/sarcasm_on) Now that's a nice switch (/sarcasm_off). Can't say as I miss living in that state, which gets my vote for most corrupt in the nation.
On to the markets. Could have been more wrong about the direction of the S&P last week, but I don't know how. Instead of zooming up, it grinded down, and Monday took a 50 point swoon, before recovering some of the losses late. My options expired worthless, and I also took it on the chin on a couple of futures trades, trying to catch the falling knife.
Now the S&P is forming a wedge, below the major wedge defined by the bigger move down starting back on January 29th. Most of the market analysts are still bearish, and predicting a pattern similar to 2008. Seems like a crowded trade, so naturally I'll zag and go with a move higher. If the S&P can break back above 2760 or so and hold, then it looks like it's off to the races. If the index bounces off the bottom of the major wedge, then look out below. As always, the markets are at a "critical juncture".
As for the real economy, the grind continues for those of us in the bottom 90 percent. Cost of living continues to rise, pay is stagnant, and the spectre of bad debt provides for a gloomy outlook. We surpassed $21T the other day, with no end in sight. Fortunately, it's only bits and bytes at this time.
Trump has another woman claiming a past affair, this time former Playboy model Karen McDougal, who I must say looks quite fetching in her photos. Wow. I see a trend here, not unlike that of Tiger Woods when he took his fall. Curious on the timing - perhaps a diversion from all the turnover of Trump's staff?
Illinois now has a Democratic billionaire running for Governor. (/sarcasm_on) Now that's a nice switch (/sarcasm_off). Can't say as I miss living in that state, which gets my vote for most corrupt in the nation.
On to the markets. Could have been more wrong about the direction of the S&P last week, but I don't know how. Instead of zooming up, it grinded down, and Monday took a 50 point swoon, before recovering some of the losses late. My options expired worthless, and I also took it on the chin on a couple of futures trades, trying to catch the falling knife.
Now the S&P is forming a wedge, below the major wedge defined by the bigger move down starting back on January 29th. Most of the market analysts are still bearish, and predicting a pattern similar to 2008. Seems like a crowded trade, so naturally I'll zag and go with a move higher. If the S&P can break back above 2760 or so and hold, then it looks like it's off to the races. If the index bounces off the bottom of the major wedge, then look out below. As always, the markets are at a "critical juncture".
As for the real economy, the grind continues for those of us in the bottom 90 percent. Cost of living continues to rise, pay is stagnant, and the spectre of bad debt provides for a gloomy outlook. We surpassed $21T the other day, with no end in sight. Fortunately, it's only bits and bytes at this time.
