Good morning ,everyone, and welcome back from the annoying three-day weekend. I had hoped we wouldn’t have to endure another federal-employees-get-paid-but-don’t-work holiday until Easter, but nope, in only a month there’s President’s Day (which is a holiday I’m sure we all celebrate with great zeal as we gather around the family table to recount tales of our favorite dead Presidents). Oh, well. At least we get a really meaty few weeks of earnings and economic news to keep us active.
Last Monday the market plunged and then rallied into the green thanks to the Fed’s endless support. Last Friday, the market did exactly the same thing. Thus, when I look at the all-red screen this morning, and the ES down more than 40 points, I’m pleased but not the least bit excited. At best, maybe we’ll get to “stair-step” this market down.
I’ve got plenty more to say, and it is below, visible to all paying members.
