hope you, BW, and everyone are doing well, down 831, need about 12 more of those, or as I once said on corx, nearly a decade ago....THERE IS TOO MUCH WORLD DEBT, ha. And then after that the entire world started borrowing Trillions, instead of Billions. My timing leaves something to be buried, ha.
gfp, do you think the markets will be going down further at this time? What does your TA say? It looks like the perfect storm of quantitative tightening, high valuations, and a slowdown in corporate earnings may be commencing.
gfp: One of the two primary drivers of the markets is on hold right now. Companies cannot buy back their shares so close to earnings season. Corporate Execs buy back without regard to price, and will even borrow money to do buy backs. So they are on the sidelines right now. The only other driver is all the Central Bank false liquidity sloshing around in the markets. Even though they say they have stopped printing, they printed enough over the past 10 years to influence markets for years to come. This market is 30% higher than it ever should have gone up, but that is the effect of money printing by not just the Fed, but all the Central Banks around the world. It is so difficult to be an informed investor these days, because so far all the past has taught us has been rendered obsolete. You can't trust Corporate balance sheets due to the Pro Forma accounting that is allowed. Companies do massive buy backs to enrich corporate insiders. Government financial statistics are massaged and falsified to promote the agenda de jure. My gut says that one of these days the bottom is going to fall out. The $Million Dollar question is when.
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