I’ve got to say, I was exceptionally disappointed in the market on Wednesday. I’m not trying to be dramatic or provocative. I am seriously, seriously pissed-off, disappointed, and feel utterly cheated. It’s infuriating when EVERY single sign points clearly to a nice, hearty, red day, and then for NO reason at ALL, the market rallies all goddamned day long. It makes me sick, and frankly my interest in this market is plunging to never-before-seen depths. Honestly.
With that cheerful intro, let’s look at the after-hours action. And that’s kind of my point. What DIFFERENCE does it make? Seriously. The fact that IBM is down hard right now, for example, apparently doesn’t mean a thing. It may rally huge tomorrow based on, what, I dunno, the smell of Yellen’s feet? Honest to God, people, there’s just no rhyme or reason anymore. I would have never, ever assumed Wednesday would recover as it did. It’s sickening.
OK, Tim, we get it, show us the goddamned charts! OK, well, let’s start with IBM. This thing roared higher once earnings came out. Then it fell to pieces. Kind of like Microsoft last night. Not that it mattered.
Tesla, as of this composition, is essentially unchanged. Their conference call could change that. But, again, what difference does it make? Data, results, earnings, fundamentals, all seem to be meaningless. We live in a random number generator.
I’m short ServiceNow, which is down. Hopefully it’ll stay that way. But it could also be up $300 at the opening bell because Powell is tying his necktie in a new manner.
If I sound perturbed, then I haven’t gone far enough. I’m way, way worse than that. Borderline furious. Let’s calm down with a song.
