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The arrogant, molly-coddled, empty-headed, amoral, government welfare queens known as equity bulls are shocked today (led by their media champion, Zerohedge) that they aren’t getting a huge rally handed to them like the children they are. We’ll see if the government intervenes in their behalf again, as they are prone to do, but the charts are looking awfully good.
I’m having a pretty good day, thanks almost entirely to the weakness in banking stocks. This is a big component of the small caps, and you can see on the /RTY how the price has been playing jump rope with the red horizontal, which keeps flipping roles from support to resistance.
Uh-huh. 3.7% inflation. Which is why I can make 5.4% interest at a bank now.
I must say, it is heartening to witness that Carvana, a very “sus” organization founded by a convicted felon that at one point had lost literally more than 99% of its value, keeps getting slapped down from strong resistance, even when empty-headed stock-pushers keep hyping this stinking, fetid pile of donkey poo.
Good morning, everyone. The CPI is out, and, just like the PPI, it came in hotter than expected. I still think it’s a total joke that this “hot” CPI is 3.7% annually. Are you KIDDING me? I sincerely think it’s 3.7 a MONTH. Again, I’m serious. I spending a couple hundred thousand bucks on stuff a year. I know what things cost. And I’m a cheap sumbitch, so I’m sensitive to it. INFLATION ISN’T 3.7%!!!!!!! Good Lord!
In any case, the equities have softened up, at least for the moment.
