Friday, March 21, 2014

The Bubble Is Still Intact

Meanwhile, I sent this text to a friend yesterday:
All this today:
Unemployment claims were unexpectedly high, US sanctions on Russia, Russia is retaliating, housing is tanking, existing homes sales drop 18%, Philly Fed employment lower, Caterpillar sales drop 15 months in a row, largest steel maker in China defaults on debt, Russia now threatening to invade Estonia, and Wall st thinks stocks are worth MORE today vs yesterday. This is classic bubble!

Become Vegetarian

Or go bankrupt. Here is the price of pork futures. It doesn't show any signs of slowing down, either.

Even the daily and 4-hr charts show no signs of fatigue:

Thursday, March 20, 2014

Tuesday, March 18, 2014

Wall St Loves Putin

As Putin began speaking to his parliament, stocks leaped higher in apparent approval of Putin's bold aggression against another country. Putin threatened "retaliation" against Western governments that impose sanctions. Wall St loves tyrants, and always has.