My Twitter account has about 25,700 followers. There’s another account from a far more bullish chap which has nearly a million. He offered up the following thought regarding the forthcoming Fed cut:
Lower Rates, Higher Stocks?
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.
Logan’s Run
(more…)“As the images of his own history twisted and ripped their way through the flames in front of him, Wesley Williams somehow knew that he had taken the right path after all. Maybe the trail had been laid out for him all along from the day he was born, and it was simply up to him whether to keep marching forward in the right direction. Wesley was here now. In spite of all his shortcomings, all his bad choices, and all the times he had missed the mark and felt ashamed, he knew in his heart he was still where he was meant to be. Gazing across the distance at his wife’s eyes – those tender, loving eyes that he had fallen in love with when he was just a boy – he knew he had never left the trail on which he belonged, even though it was impossible from day to day to know for sure where the markers would be. Somehow, he had managed to stay on the path where he knew he needed to be, even if his own foolhardiness had put his fate at risk. For reasons he could not comprehend, he had been spared his own oblivion by the pathway’s power.” – Solid State, chapter 73
The Russell Analog
The meandering Russell 2000 is continuing to drive me bonkers, but I wanted to offer myself, and you, a bit of longer-term perspective. Here is the kind of activity I’ve been tracking on the /RTY, with the salient portions highlighted.
Worst. Analog. Ever.
I’m quite fond of analogies. My brain is wired for them as well as metaphors, which is perhaps one of the reasons I enjoy writing so much. As for analogs in the financial markets, I’ve got an entire section on Slope dedicated to them, and although most analogs don’t tend to work out as hoped, they’re still a useful guide in the spirit of history rhyming.
Now, it’s common knowledge that Zerohedge has become a Goldman Sacks shill and a permabull, with their loudest and most permabullish writer being Market Ear. They have been pushing the 1997 analog lately, and they mentioned it again today.
Ethereum and NASDAQ
I would like to suggest that these two risk assets are both approaching crucially important resistance levels.
