It’s a wash

To recap:

On Monday we were down 600 points, Tuesday down 200, Wednesday up 600 and Thursday the Dow is up 200, at this point.

We’ve ended up in the same place, so far, that we began on Monday.

Still: volatility.  Mixed with emotions.

BZ

 

Down 588, down 205, today up 600

Stocks Up and DownToday is Wednesday.

Today, NYSE stocks “shot up” 600 points.

It’s being termed the “best day” since 2011.

One possible reason for today’s performance may be:

In addition to an oversold bounce, some analysts also attributed the gains to comments from the Fed’s William Dudley that a September rate hike looks “less compelling” and a strong durable-goods report.

Monday was termed the “worst day” since 2008.

And here’s another interesting point:

U.S. economy looks better than the stock market

The recent American stock market tumble stands in sharp contrast with sentiment about the U.S. economy.

Further evidence of that was received on Wednesday. The government said orders for big-ticket items like appliances and cars jumped by 2% in July from June. That was significantly more than economists had anticipated.

Clearly, you’d best buckle up for the continuous stock market rollercoaster ride.  Because I don’t think we’ve seen the end of this at all.  Down up down up down up.

This may be the start of a “new normal.”

On the other hand, don’t take a cavalier attitude.  Don’t place all your rocks in stocks.  Diversify.  And moreover, be prepared for the Mysterians to step in at any time and kick the slats out of the stock market.

BZ

 

– 588 Monday, -200 today

Stock Market Roller Coaster

[Apologies for being late with today’s post; I had to go qualify at the range before the temperatures reached a post-apocalyptic 100-degrees. -BZ]

Yesterday, Monday, the stocks dropped over 1,000 points then rollercoasted a bit until, at the close of the day, they were down 588 points.  That’s some pretty serious shite.

Some people were saying that, because of it, Janet Yellen did some yellin’ of her own, to the tune of possibly considering a QE 4.

Today, Tuesday, the market rallied a bit until, again, the close of the day when selling took precedence and the market dumped its earlier gains, down over 200 points to 15666.

Get it?  That evil 666.

Time for pants-shitting-hysteria, or is this something of a correction?

I’m favoring the latter, for the reasons I explained yesterday.

The NYSE tried self-correction and it began to work.  Stock sharks picked up some good buys.  Then the Mysterians stepped in and kicked the slats out of the stock market.

Mysterians Fight The Earth With Terrible RaysAbove, Mysterians step in and kick the slats out of the stock market.

That’s as sage and cogent an amount of analysis as I’ve heard from anyone today attempting to explain the behavior of this week’s stock market.

BZ

P.S.

China is not done with us yet.