Heading for 6th succussive quarter of decline in eps
Janet wll ensure no turmoil before the election
No worries for a while
An outfit released their August US Manufacturing index showing it fell back to 49.something (contracting).. the first time since 2010...I tried to find it just now to reference it to my post but its disappeared..Can't remember the outfit name neither so cant google it...Geez are they quick or what in burying the bad news at the moment..
Found it!!!.. I googled US manufacturing index August...Ha!! that explains it..... the older (5 days old) manufacturing index result news has been replaced by the healthier (still down trending though) non-manufacturing index result..
Yeah and this poor news will help stop turmoil too....Probably stop Janet from raising interest rates.....bad news is "good" news for Wall St ...Do you feel like everything is upside down atm?
Sentiment flip overnight with a Fed member previously a dove, flip to hawkish. Probably still no rate rise until Dec at the earliest & perhaps next year.
Wells Fargo reinforcing the banking bad reputation that the banks have and their complete disregard for honesty.
In regards if Yellen has been doing a good job, I beg to differ, but perhaps she is only dealing with the cards dealt to her be government policy.
The proof will be in what happens when rates start being normalised.
Globally we have a demographic issue of the baby boomer wealth wanting a safe place to park and they would prefer a large position in cash if they can get a yield. This burger flipper recovery is a problem for the Fed as although unemployment has improved dramatically, even if the numbers have been manipulated, (remember the change when sickness beneficiaries were removed) they are on the whole lowly paid jobs and the jobs lost were on average paying multiples.
Anyhoo, I had built a large position in the VIX and that certainly paid very big dividends overnight! Took profit on the majority of the position but have kept 25%.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
despite the 2.5% drop it is interesting that Colin Twiggs stated on Fri afternoon (our time) , so that is before US trading that:
The S&P 500 continues to consolidate below 2200 with a rounding top. A short downward leg would complete an inverted scallop — like an inverted fishing hook— a strong continuation pattern in bull markets. Respect of support at 2100/2130 would complete the pattern.
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Originally Posted by winner69
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