"ROFL The Markets"
"Markets in turmoil!" "screamed the headlines yesterday.
But that's only true when the market goes down strongly, right?
Here's the amusing part of this -- the cut in China's reserve requirement that produced a 600 point DOW futures rally overnight (most of which happened before the cut) and the futures market over the last 48 hours has done nothing but fuck people on both sides of the trade -- those who shorted yesterday -- really any time yesterday -- are now (deeply) underwater, and those who sold yesterday are shaking their heads at a crystallized and unnecessary loss.
But before you start singing Kumbaya please keep one thing in mind -- these sorts of "excursions", just as they did in early 2007 when the Asian market melted down and again in early 2008 when Bear Stearns went under, have a serious negative effect on liquidity in the market as those who find themselves with the raw deal this morning take their ball and bat and go home.
It happened last time and it will this time. And no, what started last week is not over." My sentiments exactly with these fake markets.
