US equity futures saw extreme swings in pre-market, as the Fed announced it would now be purchasing corp' bonds. We're just one step away from Print Central buying stocks.
Despite the news, equities took another swing lower into the open, with the SPX printing 2191 in late morning.
A few tweets, that relate to the Fed's corporate bond buying...
Those are just two examples that came to mind. The implications (not least ethical) of months, and eventual years, of the Fed buying corporate debt, are wide ranging.
In the days, weeks, and months ahead, whenever you hear the Cramer talking about 'the market' or 'capitalism', keep in mind, he only supports such concepts when it suits him.
|Cramer, supportive of infinite QE|
The Cramer has always gone crying to the Fed or the US Govt' whenever things turned against him and his 'big money' friends. We saw it in 2007/09, and he has been at it since the market broke m/t rising trend last month.
The Cramer is supportive of the Fed's HEIST against the American people. The Cramer IS a communist, who has long believed in one rule for the societal/political elite, and one rule for the working poor. The financial historians of the late 21st century and beyond, will not look kindly upon those who actively supported zero/neg' rates, and QE, the latter of which is an effective THEFT of real assets, using money created out of nothing. Cramer isn't the only one though...
CNBC wheeled on the Tepper for the lunchtime show, to also air his support for further bailouts and 'Whatever it takes' from the Fed.
The afternoon saw broad equity chop, leaning on the weaker side. Volatility notably failed to mirror the lower low in equities, with the VIX settling -6.7% at 61.59.
|Death, the mall, and Pizza|
No limits in the twilight zone
Today's action from the Fed is just another reminder that we're ever deeper within the twilight zone.
Arguably, rather than an actual bell at the NYSE, they should just play the above track, in respect to the Fed. You know its just a matter of when Print Central starts buying stocks... not if, right?
|Sunset in the city of Corona|
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
If you value my work, subscribe to my intraday service.
For details and the latest offers, see: Permabeardoomster.com