Friday, July 21, 2017

It Was Only A Matter Of Time. And Bullshit...

I know why the casino was down today...

"Dow component General Electric reported better-than-expected quarterly results, but the stock fell more than 2 percent as sales fell 12 percent year over year."

Got that? A 12% drop in revenue was "better-than-expected"

This is why Wall Street dullards never see it coming - because they play this wholly-contrived game of lowering the bar and then skipping over it while claiming victory.

The con job only stops working at the very end of the cycle and "no one" sees it coming.

Too busy telling themselves how great the quarter was and otherwise extrapolating forward P/E ratios having the veracity of a Magic 8 Ball, out several decades...

"Leading indicator"

S&P earnings (red) with Oil: