Wednesday, October 18, 2017

"They Don't Tell You You're An Idiot At The Top"

Because they're too busy selling into strength...

Pump and dump worst stock in the Dow. Check.

"How did IBM "beat" again? By once again applying a lower tax rate than a year ago: a paltry 11.0%, down from the already laughable 12.5% in Sept 30, 2016. Had IBM used even last quarter's 12.5% tax rate, it would have missed."

Dow 23,000 compliments of tax avoidance:

Pump and dump Chinese tech IPO. Check.

What's wrong with America in a nutshell:

 The Casino is more important than the 'Conomy: 

This is going to be a hard lesson to learn for the casino class...

It's too late to worry.

"Indeed, when comparing the daily index levels for the S&P 500 in 1987 with the progression thus far in 2017, they appear to follow an eerily similar path"

But Stovall said there are key differences between this market and the one from 30 years ago.

"First, the market this year is not exhibiting the same signs of euphoria it was back in 1987"

Jumping to number three:

"interest rates are much lower now than they were 30 years ago"

Because the 'Conomy's been outsourced. Which is so obviously "bullish"

"this bull market is much older than the one that ended in 1987"

I can't argue with that logic