Whilst thy bearest of bearest media shall emote anger and frustration that the Holy Dow did not capitulate and crash 4,000 plus points today, may your humble observer pointeth out that the Caesar of the markets held strong and saved the day.
Stupid and corny enough for my readers or should I translate it into French or Latin?
This morning’s B(L)S CPI report terrified the markets that Paul Volcker, uh, I mean Jay ‘Big LowHangers’ Powell will never cut rates and in fact confiscate everyone’s dollars from their wallets to put pressure on inflation and terminate the threat of 1980 once and for fall.
And if any of you miscreants believe that, I have a British aircraft carrier returning to dry dock again to sell you.
The A/D line was miserable. The up/down volume, miserable.
The sentiment?
Miserable.
But the nouveau tech stocks saved the day. For example, let’s take the Caesar of the Equity Empire, Nvidia:
If this was truly a market capitulation event, this stock would be down over $100.
So enjoy the gnashing of teeth. Listen to the doomsters. But remember folks:
To kill Caesar, you must decapitate him and feed him to the bears.
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