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03.07.22 Financial Markets Summary: “DOINK!”

Meet Doink the Clown.

A WWE staple who entertained everyone by being that evil clown which terrorized children, fans, and now, Godspeed to him, investors as the ghost of financial shitstorms past.

“Doink” is what financial markets did today as reality, not CNBS fantasy set in.

For example, meet Mr. PAIN:

Good thing “nickel” isn’t used in much (that’s for the ignorant souls who think it’s just a coin in their pocket on occasion).

Meanwhile, Amurica’s favorite economic indicator took a major dump today:

That’s going to leave a skid mark. High volume, end of day distribution, technicals in disaster mode, and what do some of the CNBS tout crew say?

“It’s not BTFD, but a buying opportunity is coming.”

Whatever. Please, buy my crap so I can go to Cabo this spring.

The truth is that with the markets in total turmoil, it’s not the price action daily that matters; it’s the price trend.

And right now that trend is a nightmare heading to infinitely lower lows that the used car financial news networks will simply pass off as “buying opportunities” to the unwitting sheeple.

Buckle up and prepare accordingly, the earth is shifting under Amurica’s feet and it will not end well.

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2 Comments

  1. Bustednuckles Bustednuckles 07/03/2022

    So The Plunge Protection Team didn’t spring into action this time?
    They have been propping this sucker up for weeks.
    Why not today one wonders?

    • John Galt John Galt Post author | 08/03/2022

      They are running out of ammo. The PPT is going to save the big banks first, everyone else is on their own. Unfortunately for them, the big banks are not the economy. We’re going to crash and it would appear we are hitting that mountain at Mach 3.

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