This morning, on the heels of a totally false and misleading CPI report which is supposed to make us think prices are falling (!!!!!!!!!!) and the market was exploding to LIFETIME HIGHS, I had the presence of mind still to write, “Slashing rates, more often than not, means the Fed is desperate to stimulate the economy, and the reason they do this isn’t because things are peachy……..it’s because things are about to get tough.”
The green rectangles show the explosive move, which is dwarfed by the collapse that ensued. Why? Because one sweet man in Palo Alto with fabulous hair isn’t the only one who realizes how screwed equities are. I believe the Dow is going to lose TENS OF THOUSANDS OF POINTS before this is all over. I can only hope that the bulls mortgaged themselves to the hilt buying early on today. It couldn’t happen to a nicer group of guys.
