10 December 2014

SP 500 and NDX Futures Daily Charts - A Cold Shot Baby

There was quite a bit of talk today about the Sony hack attack, and gossipy emails about from a  director calling Angelina Jolie a 'spoiled brat.'   This was a major preoccupation today on Bloomberg TV. 

You couldn't trade baseball cards off the information that they provide.   Carla Hall on The Chew offers more balanced economic commentary.

Maybe if the same Hollywood artiste had written snarky emails about the homeless and the hungry, the ongoing collapse of the middle class, or the pervasive culture of fraud in high places, we might have heard about that.  Probably not.

Hey did you hear the one about the Wall Street Banker calling Malala a spoiled brat?   Malala.  Is she on Survivor?  Who does her clothes?

Well, at least they did not have to spend any time talking about serial perjury and gratuitous torture for its own sake.  Or the general chaos into which the Anglo-American empire is falling.  Or the serial policy failures of a Federal Reserve fully captured by the moneyed interests.

Cultural vacuity, bad paper, and financial fraud are our major exports.
To paraphrase that other black hole of banality Richard Nixon, We are all Kardashians now.

Stocks took a cold shot today, with a half hearted attempt to rally giving way to end of day selling.

If one looks at the retracement levels, this is just a minor correction back to support so far.

Let's see if we get a bounce that sticks here. I took the profits on my index shorts, and will have to think hard about getting back in on that.  Downsides are dodgy in the land of easy money and insatiable elitists.

Have a pleasant evening.