Reason to Buy

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You’ve probably heard the old trading maxim that people will use any reason to sell in a bear market and will use any reason to buy in a bull market. Well, we have a fine example of the latter this morning:

0501-open

Yep. Just because the government isn’t shutting down is reason to buy. (And, let’s face it, the government is doing such a bang-up job, who’d want to shut them down anyway?) So people are actually paying cash for an equity market that looks like this:

0501-up

For myself, my old chum crude oil continues to hold the only inkling of reality:

Snap130

Anyway, this is going to be an exciting week (both in the market and here on Slope). I’m looking forward to it!

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