During today’s show I continued on with my “50,000 ft viewpoint” as to try and disseminate some things that are both in plain sight, but also, what may be going on behind-the-scenes giving a broader view that most can’t see. My Howard Stern analogy is just one.
However, today is giving a few of my colleagues and friends both perplexity as well as wrong signalling variations at to gauge whether or not what I may be saying has merit, but also, if what they’re thinking does. i.e., “Mark, you’re wrong! I think.”
So based on that tongue-in-cheek example (but it’s not far off) let me use today’s “market” action as a clarifier since so many seemed to be confused by it, because the tone is…
“Mark! Then why is Tesla™ and Netflix™ alone up almost 10% today, along with Apple™ up big, Amazon™ up even bigger just to name a few? Is that not voting with their pocketbooks showing confidence?”
It’s a fair question, and here was my answer…
“OK, look at the calendar and tell me what day it is? (waits for answer)
Have you ever heard me say, “There’s more shenanigans that happen at the end of the month to put the best spin on stock performance than any other time, and why? If not, let me remind you. That’s because the people that make their fees based on that figure have every incentive to do just that. Oh, and don’t forget, they also use those fee payers (aka customers) money to do just that! So, you just have to ask yourself the following, not me, which is: Is this time different than all the others? Or, as said by Dirty Harry (Clint Eastwood) ‘Do you feel lucky?'”
And that about sums up today for the best explanation I think that’s probable.
It’s probably no more complicated than that.
As always, we shall see.
© 2022 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.