Sigh.
It all started off so nicely. Everything was lining up. Bonds were on a huge tear……
……gold made new highs for the year and blew past thirteen hundred…..
…….and the ES was in a free-fall, since Japan was falling to pieces…….
And then it all reversed because…………….well…………..because a member of Parliament was shot dead. I cannot believe the world we live in these days. That is seriously what turned global markets around.
Most sickening to me of all, crude oil stayed down all day long, and closed near its lows of the day……….
……….and yet THIS is what happened with stocks!!!!!
And just to make things even more bizarre, gold – – the beautiful, good-feeling stuff you can actually hold in your hands – – utterly fell to pieces today after its rally, even though BitCoin (BITCOIN, for God’s sake!!!!) kept chugging along just fine (graph from ZH):
Well, no matter how bad one’s day might be, or how disappointing things turned out, we can all at least take comfort in the fact that we didn’t put our entire $112 million account into short-term index puts at the exact market bottom and lose it all and then face imprisonment. So we’ve got that going for us.
I’ve had enough. See you tomorrow.
