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Recent market conditions have clearly tested the mettle of both traders and equities alike. Below are some charts which, through the 11,000 Dow point selloff, held up remarkably well, and perhaps represent some of the safest “bargain-priced” equities out there.
Well here are eight words I never thought I’d type: I’m sick of stock prices falling every day. I mean, yeah, it’s been a great quarter (just eight trading days left……) but I’d like us to turn the corner of this thing. You already know the reasons why, so I won’t belabor them. But even with – – what is it, $6 trillion in central bank and legislative commitments already, with $1.5 trillion last night from the ECB? — this poor, diseased market can’t seem to get up off the mat.
I’ve been trading for a third of a century, but until this month, I had never experienced a market halt in my life. I think this month with got all manner of circuit-breaker events (limit up, limit down, and market halts). A moment of silence as we commemorate this momentous occasion……..
I will also express astonishment………..jaw-dropping, mouth agape astonishment………….that the $1.5 trillion the ECB just hurled at the market has been received with a giant “so what?” and the ES and NQ are once again in an unrestrained free-fall.
The era of central banker dictatorship IS OVER. It’s a shame Yellen and Bernanke won’t be held to account for their sins. At least not in this world.
Here is Fortress Transportation. You can see that gorgeous inverted head and shoulders pattern and its breakout. It worked, and the stock went up about 30%, but what followed……..oh my LORD:
I’m almost done with my “wow, look at this stinker!” posts. I just want to share this historic moment in market history with powerful examples.