An Update To: 1 – 2 – 3?

(Please note: The following is an intentional rant, if you want to skip and just see the “pictures?” They are at the bottom and are self explanatory.)

Early last week I started a running conversation of a path I believed these “markets” were about to take. Subsequently, I’ve written in detail my reasoning,, along with charts, starting with the following article “Do What You Will.” Since then I, unlike most, have posited my thinking before such moves were apparent and, again, explained my reasoning for it and – let the chips fall where they may. (You can view here, here)

The impetus behind noting the above is for this reason: As many of you know the entire reason why I began commenting on markets, now these 9 years, was out of my complete and utter frustration during the initial phases of the financial crisis beginning in 2007. I had just since retired at the age of 45, moved to another state where my wife and I had no prior knowledge, no friends, and no family members present. We were on the adventure of our lifetimes, as so we thought.

Because as it is now entered into the journals of history: Then – the proverbial stuff hit the fan. Problem was – it was more like a septic truck opened its cargo directly into a jet engine. Yes, “adventure of a lifetime.” Hint: Be careful what you wish for.

It was during this time that I finally came to the realization that most, if not all so-called “financial experts”, “gurus” of every stripe that are paraded across the media have absolutely no clue about what is truly transpiring in regards to not only the capital markets, but business in general and how it really works in relation to it.

To be kind (and trust me I am, for I could lace this page with profanity that would make a hip-hop star envious if I said how I really felt) what you see/hear/read trotted out, more often than not, that is supposedly “insightful”, “actionable”, or “accurate” is nothing more than linguistic gymnastics to build a narrative that has all the components of a purely, intentional, specious declaration, to sound as if they knew what had, or was about to transpire, good or bad. Hint: Most, if not all, is pure unadulterated bull crap. Period, full stop.

Case in point: I have made my bones about CNBC™ over the years and my literal disgust of what they portray as “insightful” business/market news. I have labeled their “Money Madman” as one of the most dangerous people to one’s 401K. Not because I think this, but as he would say, “Do your own homework.” For if you do? You’ll find all one needs to know about his so-called “insights.” Hint: Bear Sterns.

He’s now bigger than ever on that channel as they seemed to have made it their goal to immerse him in perpetual image rebuild mode – and the ratings are lower than ever along with it. Correlation, causation, or both? Think about it.

If that’s not any of the causation behind it, let me give you another: Dennis Gartman.

This “world-renowned commodity guru” as he is introduced ad nauseam across the media (more often on CNBC) dispenses his so-called “prognostications” for the financial masses.

When listening or reading any of his insights, one has to shake off the feeling that they’ve been transported back into the 18 century via his dissertations laced with “hitherto, therefore, we shall be diligently forthright in our bah, blah. blah.”

I’m no wordsmith, and Lord knows I have my shortcomings with just common english. But this facade of sounding “Oh so intelligent” while delivering useless dribble, more often than not, has now moved far past the annoying, directly into the aghast and appalled category. Here’s why, via Zero Hedge™. To wit:

“Dennis Gartman Blows Up With Investment In Riot Blockchain”

When Michelle Caruso-Cabrera ran her Riot Blockchain CNBC expose  last Friday, sending the stock plunging, experienced financial commentators couldn’t help but snicker having known well in advance the company has been a fraud ever since it decided to “pivot” from veterinary products last October to chasing the latest and greatest stock boosting buzzword of the day (in this case, blockchains), while suckering in countless naive retail investors on the escalator up who would soon take the elevator right back down.

Still, many wondered if any more “respected” investors would be caught in the bloodbath.

As it turns out, the answer is yes.

As Dennis Gartman writes in his latest daily letter, none other than the “world-renowned” commodity guru admitted that “Friday was one of the worst days we have suffered through in a very long  while” for the simple reason that Gartman was long – in his retirement account no less – Riot Blockchain.

I need not add another word except that one should read the aforementioned article for oneself. And to those of you that, for whatever the reasons, have watched, or still watch (which by their numbers in near nil) this channel for “insight?”

You have my condolences.


Below are the charts mentioned in the title:

It all began with this:

Then I updated and posited the following:

And here we are before the “market” opening as of last night’s close:

Will #3 develop? No one knows, but so far no one else has dared make such a call along with putting oneself on the line with actual targets and explainations that even a “financial guru” should be able to understand.

But then again, I’m not a “Wall Street” guy.

Which has always been my point.

© 2018 Mark St.Cyr