Saved by a Long Holiday Weekend?
First China declared its markets closed in order to celebrate the anniversary of Japan's surrender in WWII. At least that was the excuse given to close their markets. With China safely squirreled away, markets lightened up. But Wednesday's boost didn't really follow through yesterday, although it looked like it might as the day began. Sparks flew early, then fizzled at day's end with the Dow and S&P up just s smidgen and the NASDAQ down a hair.
What's up for today? Frankly I don't care. I'm just looking forward to a long holiday (Labor Day) weekend. Maybe you are too. Who can blame us?
The last couple of weeks really took a toll, especially if you're trying to be a good steward of not only your own money but that of others. Normally markets move and that's just what happens. But for some reason, this last bout of nastiness got under my skin. Maybe it was the rapidity of the drops that served as little electrodes administering sharp shocks. You don't usually see drops of that magnitude strung together like that. At one point we had a three-day loss in the Dow Jones Industrials totaling 1477 points. That type of decline's only happened 3 times in 100 years.
Or maybe it was the predictable chorus of Wall Street barkers urging us all to buy now that the market has bottomed (so they say). Not that such calls are unexpected. It's de riguer for the great sales orgainization that is Wall Street. (We explained this in detail some time ago HERE and HERE.) Heck, if I can notice that this recent drop was relatively unique, how in heaven's name can these guys call what just happened a pullback or even a needed "correction" and tell you to go out and buy now? Oh, right, I just said it: they're part of a what boils down to nothing more than a sales organization. And those who garner professional advice from a sales organization who's interest consists of selling their most profitable products - i.e., stocks - get the sort of advice they deserve.
On the other hand, it could be that the voices I listen to and respect have been saying things like, "I've never seen this happen in the markets in my (fill in the blank) years of analyzing and writing about markets. The "this" ranges from the extreme internal statistics during what we should be calling a "crash" (e.g., 162 advancing stocks vs. 3,091 declines) to the stubbornness of gold, which refuses to rise despite all historical precedence in the face of these sorts of conditions, to the tepid response of treasuries which would typically be the recipient of "safe haven" money. Just a few examples. These guys are getting a bit frustrated, if not flustered. They're shaking their heads and wondering what to make of it all.
Then again, it could be all the above combined with a special set of dumbbell workouts I started a bit after stocks collapsed (pure coincidence) which are designed to - in the words of the creator of the routine - "shock" the muscles. Shock is about the last thing I probably need right now: combining physical shock with emotional shock (maybe not quite shock, but something close to it) and mental shock (looking at some of the numbers noted above, plus others not mentioned). But, hey, I'll be the stronger for it after this all plays out. Right? (C'mon, say "Yes!"!)
Well, it all adds up to just being grateful for the long weekend break. Looked at from the right perspective, you could simply say, "God provides." And so that's just what I'm thinking at this point. So thank you God for Labor Day 2015 which arrived just in time to rest these these weary bones and brains.
Wishing you a fun and relaxing Labor Day weekend.
What's up for today? Frankly I don't care. I'm just looking forward to a long holiday (Labor Day) weekend. Maybe you are too. Who can blame us?
The last couple of weeks really took a toll, especially if you're trying to be a good steward of not only your own money but that of others. Normally markets move and that's just what happens. But for some reason, this last bout of nastiness got under my skin. Maybe it was the rapidity of the drops that served as little electrodes administering sharp shocks. You don't usually see drops of that magnitude strung together like that. At one point we had a three-day loss in the Dow Jones Industrials totaling 1477 points. That type of decline's only happened 3 times in 100 years.
Or maybe it was the predictable chorus of Wall Street barkers urging us all to buy now that the market has bottomed (so they say). Not that such calls are unexpected. It's de riguer for the great sales orgainization that is Wall Street. (We explained this in detail some time ago HERE and HERE.) Heck, if I can notice that this recent drop was relatively unique, how in heaven's name can these guys call what just happened a pullback or even a needed "correction" and tell you to go out and buy now? Oh, right, I just said it: they're part of a what boils down to nothing more than a sales organization. And those who garner professional advice from a sales organization who's interest consists of selling their most profitable products - i.e., stocks - get the sort of advice they deserve.
On the other hand, it could be that the voices I listen to and respect have been saying things like, "I've never seen this happen in the markets in my (fill in the blank) years of analyzing and writing about markets. The "this" ranges from the extreme internal statistics during what we should be calling a "crash" (e.g., 162 advancing stocks vs. 3,091 declines) to the stubbornness of gold, which refuses to rise despite all historical precedence in the face of these sorts of conditions, to the tepid response of treasuries which would typically be the recipient of "safe haven" money. Just a few examples. These guys are getting a bit frustrated, if not flustered. They're shaking their heads and wondering what to make of it all.
Then again, it could be all the above combined with a special set of dumbbell workouts I started a bit after stocks collapsed (pure coincidence) which are designed to - in the words of the creator of the routine - "shock" the muscles. Shock is about the last thing I probably need right now: combining physical shock with emotional shock (maybe not quite shock, but something close to it) and mental shock (looking at some of the numbers noted above, plus others not mentioned). But, hey, I'll be the stronger for it after this all plays out. Right? (C'mon, say "Yes!"!)
Well, it all adds up to just being grateful for the long weekend break. Looked at from the right perspective, you could simply say, "God provides." And so that's just what I'm thinking at this point. So thank you God for Labor Day 2015 which arrived just in time to rest these these weary bones and brains.
Wishing you a fun and relaxing Labor Day weekend.
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