(For those who say I just don’t get it…get this)
Remember all the hoopla made across the mainstream business/finacial media just a few days ago? For those that don’t here’s just a couple. To wit:
When it came to the Fed. and its Chair during his speech:
“Powell sees the global slowdown and knows that it could hurt us,” Cramer said in a tweet storm as the prepared remarks from the Fed chief were being debated on CNBC’s “Fast Money Halftime Report”by host Scott Wapner and a panel of traders.
“Powell is concerned and knows when he does one he has to wait — very big change in view,” Cramer said. Powell “took himself off the table as a reason for a longer” market meltdown, Cramer added.
When it came to the “truce” at the G-20 as of yesterday evening:
“If you want to understand what’s working in this market, you need to think like a Chinese bureaucrat — not like a portfolio manager — a Chinese bureaucrat who’s trying to make President Trump happy,” Cramer said Monday on “Mad Money.”
From my article Sunday: “When The Wrong Conclusions Can Spell Disastrous Resolutions”
It is here where the true problem now arrises:
Did they blink? Or, just wink?
The resulting “market” reaction as displayed on Thursday and Friday seems to show it was nothing more that a “wink” as to maybe allow some form of front-running narrative to take hold of and help prop the markets up from a bad month-end scenario while also helping the mood going into the G-20.
From My Article Saturday: “So The Question Is…”
And that question appears to be answered as I’m currently typing this, again to wit:
And for those wondering, the answer is yes. As of this writing nearly all of the so-called “off to the races” surge via the “blinked” as well as G-20 calls has been wiped out.
It’s quite possible all of it (if not more) may be gone before day’s end.
But what do I know.
© 2018 Mark St.Cyr