“Wall Street sure knows how to party … next up, midget bowling!”
Well, today is Faculty Lounge Party Day; ChairSatan Janet and her band of sycophant crew have been preparing the groundwork for weeks if not months, Nothing has been left to chance; every FED financial MSM type who matters [and even some that don’t], have been given their marching orders to spin today’s interest rate rise as “uber bullish”, and talking heads on CNBC already have their scripts written [and approved], and are simply waiting for 2 P.M. to kick the party off like it’s New Year’s Eve 1999. “Everything Is F-ing Awesome Baby”!!, and already phrases like “Dovish Hike” or “FOMC Drift” are making the rounds to various Vampire Squid & JPM hangouts where it can be trumpeted to the masses via intellectual research reports for Muppets”! Oh, this is gonna be fantastic news for ordinary folks out there already under the thumb of burdensome debt, which comes out later today and simply means all of your debts are gonna be a tad more expensive to service; but hey, who cares, it’s “transitory” and you can afford it anyway, so STFU, buy moar stocks, and party on dude!
And just in case you’re one of those “negative nabobs of negativism” [thank you Spiro Agnew, wherever you are], with that “old line” thinking that higher rates hurt the economy; well, you can relax, cuz they’ve “rewritten” the rule book. Yes, higher rates are good for everybody!, especially … well everybody! “When it’s time for midget bowling, are you gonna be the one to step up and be politically incorrect and say this isn’t right and spoil all the fun? Of course not; you won’t be invited back if you do, and besides, you’re the one laughing the hardest! And, if that’s not enough along with all the other party preparations we’ve made on YOUR BEHALF cuz we care sooooo much, there’s record-er-er highs for the SP500 & Dow30 right around the corner to make your 401(k) fatter, which is all you really care about anyway. So, relax and party”!
One article [link directly below] caught my eye yesterday I wanted to mention today, especially in light of the interest rate hike that is baked into the cake with today’s FED meeting; not because it sheds light on anything I didn’t already know, but simply because “THE MATH DOESN’T LIE”. Pols of all stripes lie, government Apparatchiks lie, and trusting anybody in or around Washington, D.C. has the potential of being your undoing; they’re simply Scumbags … no news here. But at some point, the math always catches up with socialist dreamers, Progressives, Liberals, Snowflakes, Bernie Sander’s types, Communists, and generally anybody else that thinks stealing other people’s money is the “ticket to success”. It’s never worked in the history of the world, but you can’t convince self-anointed “smartest people evahhh”, like Obama and/or BernieBro, for example, that it isn’t gonna work this time around either.
David Stockman was formerly Renaldus Maximus’ budget guy back in the 80’s, so he knows a thing or two about 1) phony government budget math, and 2) the complete and utter unsustainability of the current deficit mess that grips Washington. It’s startling to think that 1) Obama ballooned the national debt more than all other Presidents combined [about 240 years versus 8], and 2) the “debt ceiling” stood at $1 trillion early in Reagan’s first term, and now sits just shy of $20 trillion. EXIT QUESTIONS: “What did we get for a TWENTY FOLD increase in the debt? Did “health care get better? [haha] Did America’s infrastructure get better? [haha] Did schools, airports, colleges & universities get better? [haha] Did the military get upgraded and improved? [haha] OK, SO WHAT THE HELL DID WE GET FOR A TWENTY FOLD INCREASE IN THE DEBT? SHORTT ANSWER: “Not a damn thing, except more government graft, corruption, and bribery at every level, utilizing every known scheme to mankind. Thank you “poster children” Bill & Cankles Clinton”.
In any event, it’s a good read and worth your time if you didn’t catch it yesterday over on ZH. Of course yesterday was “circus day” yet again, for the world’s biggest oxymoron; the Senate Intelligence Committee. Proving each and every day why most people hate politician’s guts, these grandstanding hypocritical A-holes never seem to realize that most ordinary folks out in “rube country” between the coasts, can spot the blatant hypocrisy, overt partisanship, and pandering to the camera so they can create a “real live” 30 second ad for their next campaign to show to that special interest group they want support from and need to get their cash. And while both sides of the political aisle have their star hypocrites, the current crop of Senate Libtards really take the cake; if you want a laugh and see what blatant hypocrisy, identity politics, and the du jour “I’m outraged to be outraged” are all about. Senators representing “the free shit party”, Wyden & Harris [Oregon & Kalifornia, respectively] are enough to prove my point with AG Sessions testimony. Directly below, the link of Kamala Harris with some of her idiotic questioning in case you missed it, along with AG Sessions response. I’m waiting with baited breath the coverage from the New York Slimes or WaPo, since they think they own the market on morality in politics; but, in simply another example of selective reporting, I’m sure they think nothing of the rudeness and hypocrisy on display from members of their own team and deem it all “ho hum” and not worthy of print.
Ok, back to the party … turning to today’s market … well, here in the pre-market about 2-3 hours to the open, stocks are sitting right on top of all-time record-er-er highs, what else? … and again, like pretty much every day, somebody ramps prices to the high at the open so the moronic institutional Chipmunks can do their day’s buying right at the high … only makes sense right? After all, it’s not their money, it’s Muppet money! … NDX100 higher of course … as I said yesterday, if you think the central planners are gonna let the NDX100 go over the proverbial cliff on the day of, or the one before, an interest rate hike, then you’re nuts cuz it isn’t happening. So, NDX100 rallying back strongly is “par for the course” to get you back in so they can savage it yet again, in the near future, and profit some more at your expense, AND provide the necessary “get the NDX100 out of the news” as the FED hikes rates. “And you think planning this kind of party is easy”?
So, the party hats have been distributed, the band waits to play, the girls are sun bathing, and the midgets are napping cuz they need their rest for this afternoon’s big event, and everybody can walk around now on “eggshells” ‘till the grand kickoff right at 2 P.M., followed by incomprehensible babble [listen at your own risk cuz it won’t be pretty] from head Oracle Yellen, as she effortlessly speaks bullshit to assclowns like Steve Liesman from CNBC, who will be there to eat every word up like chocolate pudding, the good little apple polisher he is, and if he’s a “good boy” he will be allowed to approach the Oracle [genuflect of course], and ask his probing question, “Madam Chairperson Yellen, is the economy OK”?, and from that we will get 30 minutes of twisted pretzel logic and bullshit, that if you’re sitting in the front row, you’ll need hip boots and a gigantic shovel to escape from suffocation. In other words, a normal day in Washington, D.C.
Dow30 loses 25 points on news Congressman shot during baseball practice this morning about 90 minutes from the open; Ok, we now know what shooting congressional personnel is worth; not much. This speaks volumes on present day America and its decline, which make no doubt it is in, and accelerating faster than you want to admit. The solution? Stocks to record-er-er highs baby!
Well, that was quick wasn’t it? This isn’t gonna do? We simply cannot allow stocks to go down, and so, when it’s learned the gunman is in custody or dead, and nobody got seriously hurt [that I’ve seen reported but could be wrong cuz they want it out of the news], and it’s basically a “one off”, it’s time to buy moar! And it’s straight up 8 minutes and counting off the “Congressman Got Shot Low” and we’re back right where it was before anything happened. If I tried, I couldn’t make shit like this up and be believed by anybody who is relatively “normal”.
Ok, no need to elaborate on the day since the FED is the news at 2 P.M., with a presser at 2:30. So far, down a little money on 2 trades that could have been much worse but weren’t, although we got ass mauled with LP slippage. We’ll see what 2 brings to the table. Overall I’m bullish, and I don’t think the FED is going to let the stock market get creamed this afternoon, but Twits being “Twits”, who knows … they’ve made so many policy blunders already it’s astonishing anybody believes anything they say or do.
Not a good day, and here near the close, we’re down about ½ of a percentage point, on what feels like a baby seal clubbing; truth be told, LP in the Dow30 should be taken out and shot. Slippage today on everything totally outrageous, and while the loss is gonna be there no matter what, my best guess is that the LP added at least 70%+ of the loss with shit fills on slippage on every stinkin’ single order I did, getting in and getting out. The worst fills I’ve ever gotten via Turnkey today, not once but TWICE, with 2 sell market orders that each got raped over 10+ points to the downside ; others not as bad, but that’s no comfort. I’d bitch, but what’s the point, they aren’t going to do anything about it anyway. The LP’s are scum and thieves, and quite frankly I don’t care who knows I know it; the bank can stick it in their ass. Seriously, these people need to be in jail; so what’s new we didn’t already know about their operations?
Given the fact the Dow30 today saw new highs, then went to new lows, then rallied to another new high, then went to another new low, and then rallied in the last hour to another new closing all-time record high from the low of the day an hour earlier, it’s a miracle I’m only down what I am. If today’s action doesn’t convince you this stuff is manipulated, I don’t know what it will take to convince you. Second day in a row the “Plunge Protection Team” is in the market the last hour ramping prices to new highs [nice 100 point rally bottom to top in 44 minutes]; simply unbelievable the efforts of their openly blatant manipulations; especially in the NDX100 & Dow30.
And no, it’s not some kind of conspiracy theory where I can’t handle reporting a couple of hundred dollars loss, but once again my Microsoft Office 365 PAMM spreadsheet is not working properly, so tonight I got to call Microsoft Tech Support and get it back up; I’ll have it back up tomorrow after trading.
Forget the beach, I need a drink! … the dog and I are outta here … until tomorrow.
Have a great day everybody!
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