As usual, the analysts come through as they always have. Useless. Wrong. Pointless. But if you’re going to pay someone to JUDGE the exact same product you are SELLING (that is to say, the brokerage), what do you expect?
Restoration Required
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
A New Flavor of Failure
Good morning, everyone, and welcome to Friday. It’s been quite a good week, and even though during the composition of this post, the equity futures have all flipped from red to green, I’m still optimistic about being pessimistic. I wanted to thumb through four index charts of notes to get the day started as we wrap up this shortened trading week.
First up is the NASDAQ Composite, whose most germane feature is the Fibonacci line. The atrocious mega-rally that began in mid-March and, thank God, terminated at the end of July, send the COMPQ flying toward this line, only to be repelled. My view is that this level, which is roughly equal to the peaks in early 2022, is going to be the high water mark for months to come.
Debunking the Debunk (by NYUGrad)
Liquidity Update
As we approach the end of this holiday-shortened trading week, let’s close out Thursday with a look at the latest liquidity numbers from our darling friends in the federal government.
First up, we can see that Yellen has continued to hand out free cash to her banking cronies by way of BTFP, with the amount owed clocking in at $108 billion. Nice to have friends in high places, yes? Ostensibly, her 12-month program is now 50% done. I can guaran-fucking-tee you that, in an effort to “support everyday Americans“, that scumbag Yellen will extend the program and soften up its terms even more. The notion that her sickening buddies in banking are going to be handing that cash back is out of the question. Just. You. Watch.
The Bay Area Makes it Tough!
Well, here’s another reason to avoid San Francisco: in order to even feel rich, you need millions more!
