Half a trading day in the US, has risk markets up on the lowest Black Friday volume since 2007. The same ‘two guys trading’ we have noted for many months now, as over-valued assets continue to repel serious investment capital. Meanwhile this segment gave me a chuckle. While bankers where lauded as “genius” saviors up until the credit bubble burst in 2007, today apparently they are embarrassed to admit their trade at dinner parties. Poor babies. Historically this is a step in the right direction, as we move toward the repulsion phase necessary to finally end the secular bear market. No one arrested yet though…so not there yet. Here is a direct link.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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Well, it may be two guys trading, but FWIW Investors Daily founder/ceo William Oneil has declared Fridays trading as a valid follow thru day (#5 on attempt)
I don’t buy it, but good luck Mr. Oneil. Lets see how good you really are.
How to Rendition An Inconvenient Economist
http://theautomaticearth.com/Finance/how-to-rendition-an-inconvenient-economist.html
There’re more signs that the tide is changing and the tide is NOT in favor of the bank(st)ers.