I’ve been so busy this afternoon, I’ve been racked with guilt about not being able to sit down and do a post. But here I am, so I’ll get on it…….
The bear market was supposed to really kick in full-force a year ago. News flash: it didn’t. Allow me to show you what I mean by this.
I woke up this morning, last night’s post on my mind, and thought to myself, “C’mon, Tim, there’s got to be SOMETHING interesting going on in the market you can write about.”
So I wandered through my pitch-black first floor, iPad in hand, sat down, fired it up, and headed over to ZH, since they were bound to have something provocative. And yet the most exciting contribution was along these lines:
So……some “trader” is “stunned” at………a failed communications strategy. And a guy from Bloomberg is “amazed” at how a debate continues to “rage” about Janet Yellen’s mindset.
For a person who has almost zero interest in sports, I sure have been lucky lately. I sorta-kinda watched the World Series last October, just for the final portion, and it turned out to be one of the most amazing games of all time. And then yesterday we sorta-kinda had the Super Bowl on, and we all know how that went. (Just to give you an idea of how intently we were watching, I walked into the room and asked my family: “Has the game started yet?” and none of them had any idea; every single person was on their respective laptop).
Anyway, the Patriots’ victory last night just goes to show, no matter how down you may be, there’s always hope. And having said that, I must again point out that the bold breakout in equities (tinted in green on the ES below) fizzled swiftly (see red arrow), and the market has been unable to get its old verve back. My fervent plea to the market gods, of course, is that we slip below last week’s lows, and the Trump trauma can really start to sink its teeth in.
2016 was the year I finally decided to codify my niche as a psychology-focused market contrarian, putting the Alice, Red Queen and Rabbit components of NFTRH’s logo right there on my inner forearm, forever.
This is because I love the imagery and themes of NFTRH’s guiding metaphorical story, Alice in Wonderland, and because the weird technical tools I use are generally in service to one thing; being right when the herds are going the wrong way. The concept originally came to me as the markets were beginning their descent into the crash of 2008 as the newly launched market management service needed a view that was apart from the emotional herds then preparing to go down the drain. Alice’s quote (Lewis Carroll), a portion of which occupies my other inner forearm was perfect in this regard…
“If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn’t. And contrary wise, what is, it wouldn’t be. And what it wouldn’t be, it would. You see?”