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I think there should be something called “The Amazon Effect“, which is a delusion much of the public holds that, if only they could get onto some hot new IPO, they could make the fortune they should have made if they had bought AMZN when it came out. Thus, we get stuff like this from the Spring:
Well, I most certainly do not “love, love, love” THIS kind of action. Since the government won’t permit more than a few days of selling, we were hit with some vague headline about maybe tariffs weren’t going to be smacked in China’s face (backpedaling, once again) which is all this oversold market needed to hear. Typically, markets rise slowly and fall quickly. Over the past week, it has been the exact opposite.
Not that anyone should care – – particularly the market gods above – – but this is exactly, exactly, exactly the kind of market I love the most. Specifically, one which is slowly but surely grinding its way lower, breaking trendline after trendline. Nothing dramatic. Nothing so newsworthy that it gets government intervention. Just………bleeding.
