Down 419 but a surge higher at the close
From 3:45pm, in today’s darkest hour (for the market) when the S&P was bang on the lows, we saw a glimmer of hope with a fast 135 point DOW rally in literally 8 minutes. Calling a spade a spade, the market was soundly clobbered today. But this is not a “financial crisis” or a market that is peering into the abyss (this was happening in 2008/2009). This market is down because we may be heading into another recession. This recession will be very different from 2008-2009 and not as deep and the market pull-back won’t be as deep either. From the highs we are already down over 16% (so this is partially already priced in). I’ll just point out that the bear trade is just as risky as a bull trade in this utterly destabilized market. I’ll call it: “the reverse flim-flam market”
CJF
Admin,
The market is completely manipulated and Summer spikes/down moves must be ignored. Up 400, down 400, up 500, down 500. No one knows anything and pure speculation in play by corrupt banks and an enabling government.
Found this web site randomly. When did this blog begin? Assuming you have a Wall Street background? I used to work on “The Street”, but left after realizing a non-value added life.
Kari
Brooklyn
Hi there – logged in and just saw your comments. Yes i have a “wall street” background. Have worked at “conventional” wall street bank/hedge fund jobs for a number of years. I empathize with your view that finance jobs can be “non-value” added. Things often feel like a grind. The website is new, launched this month. There will be an overhaul within the next 1-2 weeks, with an enhanced look, graphics, functionality. From there i’ll focus on great content – that is hopefully entertaining, and helps people invest better. How did you “randomly” find the site if i might ask?
Thx
CJF
Google search on Dillard’s – how else? Will favorite this site and keep an eye out for future postings.