I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall the fed was about to pull the trigger on rate hike but they thought better of it. They have chosen to make one input matter more than any other in their decisions to raise rates and thats the only input. Plummeting and easing inflation. Its that hiring is good which means if we get a robust employment number tomorr
Proximate causes of going down. I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall the fed was about to pull the trigger on rate hike but they thought better of it. Now then theyre buying. They have chosen to make one input matter more than any other in their decisions to raise its not that noise is plummeting and easing inflation. Its that hiring is good which mea
Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall the fed was about to pull the trigger on rate hike but they thought better of it. Now then theyre buying. They have chosen to make one input matter more than any other in their decisions to raise rates and thats the only input. Its not that noise is plummeting and easing inflation. Its that hiring is good which means if we get a robust employment number tomorrow down substantially because it would mean more talk that the fed must tighten even in the face of the o
Now then theyre buying. They have chosen to make one input matter more than any other in their decisions to raise rates and thats the only input. Its not that noise is plummeting and easing inflation. Its that hiring is good which means if we get a robust employment number tomorrow morning we could find ourselves down substantially because it wowod mean more talk thahathe fed must tighten even in the face of the obvious nightmare of china and what its doing to our markets. We know one of the main drivers of whether a stock market is going to go up or downwns whether the fed is planning g help o ohinder the economy. If the fed wants to help our stock market has positive bias, hinder, negative bias. You throw in china which is massive uncertainty. In keeping with a a untry trying to figure out how a stock market should work and you have a picture that produces selling which gives me a chance to talk off. I keep seeing questions in social media along the lines of how could there be a sell
The dow plunging through. S p 50 plunging 3. 27 . Nasdaq diving 3. 03 . Thats the worst start for the dow ever. You can go back to 1928. Dow has never been down more than 5 until now. It is the worst trading days for the s p as well at the beginning of the year. Throughout tonights show im going to talk about the proximate causes of going down. I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall