I just wanted to add a few more “pictures” as the say in Silicon Valley into what I now call the “Family Album of Markets.” There’s an ulterior motive for posting these in addition to just making my observations available and that motive is this: I want to make sure this is on the record for public consumption as to make note to the many times I have warned and called out the current state of mainstream media financial/business shows not only has now been validated, again, but going forward just how much unlearning, (never-mind re-learning) will now be needed to understand what is truly happening today.
I say this because of this reason: I tuned into CNBC™ to see how things were being reported and low and behold when the Dow™ was down only (yes, imagine using that word) 400 or so points none other than the buzzer-king himself Jim Cramer was on giving his “I would not sell…” routine and why. It was, for those of us that remember, much along the same tripe he gave when Bear Stearns was collapsing and the markets were roiling.
I am going to go on the record here and state that this “insight” that was professed by him will be the final nail in his brand of investing and will be a note mark in history that people will point to just like when Jon Stewart did on his show back then. I’ll have plenty more to say about it on my show later today.
Below are a few updated “pictures” to compare with what I posited in prior posts.
First, here is the S&P 500™ as of yesterdays cash close. To wit:
Here’s China overnight via the Hang Seng and Shanghai Indexes:
And for those who don’t understand the word “contagion?” Here’s Europe’s main indexes as of this writing at about 8:30 am ET:
I’ll have more (in fact much more!) to say about all this on today’s show, so as they say in media land…
Be sure to tune in!
© 2018 Mark St.Cyr
I usually don’t do so many updates in one day, but today has been one for the books. The following a few recent “pictures” of what I’ve been calling attention to over the last few weeks. The following is just the latest in the succession. You can see the originals by clicking here and then using the links contained with those to go back further if you so desire.
So with that said here is where we stand as of around 8:00pm ET, Thursday evening. To wit:
Where the “market” currently stands in relation to the first trading days of 2018:
One group of people (coughmainstream business/financial mediacough) has been right all year for the wrong reasons.
The other group, such as people like myself, have been wrong for the right reasons. The reason?
The Federal Reserve.
What happens when people like myself are proven out to be correct and the others are not? Hint: The above shows it precisely as predicted.
For those that believed the first, hook-line-and sinker and thought BTFD (buying the f’n dip) was never going to end badly, and allowed themselves to be convinced by this very same crowd that people like myself were as they liked to call “the doom and gloom crew?”
You have my condolences.
© 2018 Mark St.Cyr