Whether it comes from the insane 'everything is fine' cheerleaders on clown finance TV.. or the relentless 'crash-calling' doomer bloggers, it should be asked, are most comments worth anything? So few market commentators seem able to accept what is currently going on
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| Haaaaaaaaaa Bahhhhhhhh Bahhh |
Dow, monthly (world)
Summary
Whilst watching the most recent episode of South Park today (if you get upset at that show, then you should stop reading about........ now), the whole issue of 'comments' really struck me.
We do indeed live in a world that is now hugely obsessed with what others are saying. Not just the usual Government leaders.. or even talentless celebrities (yeah, I'm thinking of you, Kim K') but almost anyone who has the ability to string a few words together. Ohh, and yes, I do recognise the irony in that I'm commenting on this.
Yet.. here we are.. almost another year complete... and I see so many around me, seemingly having lost almost all perspective.
Tout doom.. or lose audience
Without question, I know I have annoyed a fair few of my viewership across this year. After all, I'm not regularly touting 'omg.. we're going to crash!'.
I could reel off some names.. and indeed I shall..... Daneric (Mr 5 waves himself).. then there is deflationland.. where all charts lead to sp'1000. Tim Knight is still around of course, and generally on the short side, but somehow not bankrupt (how is that possible with typically 100/150 shorts?).
Then there is the semi-mainstream Karl Denniger of Market Ticker, who appears in outright denial about what is going on, just look at that header pic....
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| Hey Karl, I fixed it for ya. |
Denniger would make for a great case study... not least in his bizarre optimism that Americans might still... somehow magically change course. How the hell is that possible, when so few could even explain what the Federal Reserve is?
No doubt the relentless calls for imminent doom are far more attractive to many out there.. rather than reading that 'the trend is still broadly higher'. I'll be damned if I'll start going the route of touting doom, merely to keep all of my audience.
.. and thus concludes today's semi-coherent rant.
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Looking ahead
Friday will see an array of key data... not least the monthly jobs data. Market is seeking net gains of 230k, with a static headline jobless rate of 5.8%. Considering everything, those targets don't look overly bold, and it'd not surprise me to see a down tick to 5.7 or even 5.6.
Other data... intl. trade, factory orders, consumer credit (3pm).
*two fed officials are speaking, but I don't believe either will be of importance.
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A final note
To be clear, I do think many have 'something good to offer', and that certainly includes deflationland, Knight, Denniger, and even Mr 5 waves. From what I know, all seem genuine 'nice' people, however, I can't help but think all of them remain largely in denial about what is ongoing, and likely ahead. As I often say 'go stare at a monthly chart', but I realise... few ever take me up on that suggestion.
Goodnight from London
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ps. Yes, I made that Cartman gif, from last night's episode #Rehash
