Updated Receipt To Prove The Point

Last week I wrote a note of thanks which include a “receipt” if you will to show my assertion in data form. It was important only for the reason that it showed why I do what I do sometimes. It also served as the receipt to show I wasn’t making it up.

But something has happened since then that needs to be added as to show via the same type of receipt that shows it in a bit more dramatic detail for reasons I’ll explain. First, an updated version of the same chart shown with data through yesterday, Thursday, October 22nd. To wit:

If you don’t want to go back and see the prior post or graph, I’ll give the details here…

As you can see on the above, looking directly at Oct 15, that traffic (~300% sudden increase) was the initial reason for the prior note and thank you. Now look at the last bar which is yesterday e.g., Thursday. That’s well over 3X that original 300%. Any idea why?

Here’s why for those that want to know…

As I have argued ad nauseam the reason why I stopped commenting on markets in this financial climate is because no matter how much I argued my points inevitably the main consensus from far too many was – “Geez, Mark. Give it up. You’re just wrong and my 401K proves it so.” You know, like I inferred in my latest note regarding interest rates.

This happens (relating to the sudden increase of traffic) the moment the financial press and more suddenly gets questioned in a panic. Or said differently: Suddenly the argument “My 401K blah, blah, blah…” confidence smells like they just might have been consuming outright garbage if not blatant lies about said markets. (I’ll go with that latter, but that’s just me.)

Within hours of when I wrote that note on Thursday, suddenly everyone seemed to want to know what I was thinking. Again, why? Remember what I’ve professed over these last few years: As long as this market keeps going up and is rescued by the Fed every time – No. One. Cares. Period, stop. Do not pass Go or collect $200.

So with that said here’s what I believe has suddenly changed, doesn’t mean I’m right. But I’ve been doing this long enough to read the stitches on the fastball as the quip goes.

Suddenly, needing to know from someone that may actually know became immediately paramount once again. But what might be even more important is this…

From someone they trust will actually tell them straight.

And that my friends is the true gold standard of doing what I do. You can’t buy that. You either have that position in peoples minds or you don’t.

And for that, with all the sincerity one can muster, I say again, thank you.

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