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Wall Street a Little Too Zen about Coronavirus

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Stocks seem to be shrugging off disquieting news about the coronavirus a little too easily, so be careful.  Most of the bad news has concerned the apparent spreading of the disease more rapidly than had been anticipated just a week ago. Far from peaking, the virus seems to be gaining momentum. Wall Street took the most recent headlines about this not merely in stride, but used them to beat stocks down Wednesday night in order to set up some bargain hunting opportunities ahead of Thursday’s opening. We should pay particular attention to AAPL, the most important stock-market bellwether of them all, because there are technical signs that its flirtation with new highs over the last month or so has masked distribution by the usual sleazeballs. All too often, the firms they work for tout stocks like AAPL to make it easier for them to unload shares on the unwary. If that sounds shocking, then you’ve been living on Mars.

Please do not ask trading questions!

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  • len daquino February 14, 2020, 5:36 pm

    yeah ben I reckon you are certainly right about lies and more lies .. this world has been a big lie since 08 09. any moment the truth comes out and then wack .. the people who did time and price studies in markets are the biggest liars..

    Reply
  • Ben February 13, 2020, 11:37 pm

    I’m starting to suspect that _every_ country is lying, to at least some extent. For example, here in the U.S. … There was a new confirmed case in Hoffman Estates, a Chicago suburb, last week. But I don’t see it showing up in the U.S. case trackers. So there’s some lying, even here. And that means there’s probably more cases than the official 15.

    But I bet there’s more lying in Singapore — the second most infected country in the world — where the virus supposedly can’t survive, due to the warm climate. And throughout the week, there’s been some here and there discussion about Indonesia hiding their cases. Even North Korea, for all the early closing of borders, has to have some cases, since they’re utterly dependent upon black market trade with China. Of course, Kim Jong Un is going to lie!

    Everyone has the same reason for lying: No one in this globalized economy wants to be the first to have to say “Okay, cut me off from the world, it’s bad here!”. And so long as people aren’t tripping over coughing people and corpses, governments and “health” authorities can get away with this lying delusion crap. And so long as they can get away with it, so will markets.

    At this point, I’m thinking we kind of deserve what’s certainly coming.

    Reply
  • len daquino February 13, 2020, 9:35 pm

    20 years I aint been here .. but its a pleasure.. your way with words to describe the big game is exceptional.. I cant buy anything gold in this evil robot world .. nah 25 years .. I told moriarty and kern what to do with their little scam .. so dumb they are helping them out.. im just short everything .. wont work the little scam that dago dalio helped out the fed and fall street with .. bulls and bears make money . pigs get slaughtered .. I don’t care if im early .. been told that .. the fool prechter calling the bottom of the 5th on march 6 09.. fool .. helping them out as well.. the good ole boys making plenty in the pig farm..well im isolated for my views on markets and participants but certainly enjoy your site .. see no such thing as an inflationary depression .. downright always defationary depression , no matter what garbage the boys spew out.. denial aint a river in Egypt. keep up the way u write love it .

    Reply
    • Rick Ackerman February 13, 2020, 10:51 pm

      Thanks, Len, for the kind words — concerning me, at least — and welcome back!

      Reply


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