Monday is something like Veterans Day in the US, so if you want to do boredom-trades in shitty stocks it'll have to be the Venture for you. See if maybe you can get rid of that crappy Corvus position that's been haunting you.
BI - Kotok says low inflation is fantastic for stocks. Which reminds me, I haven't been getting any Kotok on my Ritholtz RSS recently. Has he gone somewhere else?
Joe Fahmy - Extreme fear. He sees in with both people who are out of the market (scared of the coming rapture where Jesus punishes us for going off the gold standard) and people who are in the market. I wonder if you can see that in the market's dynamics?
Ritholtz - % of stocks over 200DMA. I guess it's a warning sign that we're near a top? But as he notes, the market always ends up higher later.
WSJ Japan Realtime - it's Japanese retail who puked.
Ritholtz - Nikkei downtrend 1982-present. Seems they hit that upper trendline. But as he says,
The key here is if and when the Nikkei breaks through that trendline, it is likely the beginning of a longer term multi-year breakout. This is why we put on Japan exposure for clients much earlier this year.Or I guess you could just keep buying junior golds and hope that God stops hating you soon.
Permashave Dave - dark trading pools and HFT explained. Link to a BNN expose on the topic. And it's "Permashave" cos someday he's gotta take a haircut on Corvus that he ain't never gonna get back.
BI - Citi's Tom Fitzpatrick is a clueless fucktard on rabies. Here I shall rant. I shall begin by reprinting the chart that Fitzpatrick grabbed from King World News of all fucking places:
|My reproducing this chart on my blog does not mean I'm a clueless assclown.|
Recognize that chart? Hm?
Yeah, you do.
It's the one that most goldbugs suspiciously fell silent about after gold dropped way the fuck down below the 2010 debt ceiling limit you fucking clown. It's the chart that famously shows two completely fucking unconnected things that are going up - except now only one is going up.
Now some idiot boy-child has drawn a dashed line with an arrow on the end, which the more mentally retarded of analysts tend to do to try to persuade you that some shitpig is guaranteed to go back up.
It must go back up, right? After all, the arrow on the dotted line points up!
Can Citi's Tom Fitzpatrick explain how gold and the US debt ceiling limit are connected? As the US debt increases, for example, is the Fed required to buy gold to back the debt?
I could produce another chart relating the price of gold to the number of children born each year with the name Trayvon, the number of retired hockey players who used to be on the Toronto Maple Leafs, or the number of stupid bank analysts whose heads I'd like to beat some fucking sense into, and it'd look about the same. It doesn't mean they have anything in common.
Citi's Tom Fitzpatrick, you fucking clueless retarded crack-smoking syphilitic drooling idiot boychild assclown, gold's price is determined by emerging markets wealth growth and availability of mine supply. Not by that stupid fucking chart that only King World News will still print because the rest of the entire fucking world considers it a hilarious fucking joke.