It was a pretty big weekend for me.
When I went to bed on Friday night, I owned one house in Palo Alto.
When I woke up this morning, I now own four quarters of a house in Palo Alto. Sweet, huh?
I mean, that’s the logic these days, right?
You can’t fault – – well, everyone – – for their blind optimism. You’ve had eleven years of ceaseless “accommodation”. You’ve had a federal government which has utterly whored itself out to the upper class. And, collectively, you’ve got the largest, dumbest collective of freshly-printed investors to have ever existed who, by the way, have been doing great.
August has been no exception for markets, such as the NQ:
Although the lifetime highs in the ES and NQ seem to have burned off (I am typing this not long before the opening of the regular session, and the ES has actually managed to flip red).
It hardly matters, though. Powell would sell the soul of his children to the devil to make sure he never gets a mean tweet again.
The small caps, portrayed below by way of /RTY, have mercilessly teased, tickled, and taunted the March 23 trendline (including just a few days ago, as circled) but just won’t break it. Until it does, this nauseating permagrind will simply go on until we all die of boredom.
It will, in truth, be fascinating to see what the po-stAAPL split and post-TSLA split psyche looks like, as this appears to be the public’s latest fetish. Personally, I think it’s madness, but I’m afraid the past eleven years have not belonged to thinking people, and I don’t have hope of that changing.