The market is strong until it isn't
God is good until he isn't is one of the more interesting statements i've recently heard, it comes from that magic city show on showtime or hbo ?
So I'm gonna steal not that anyone can ever steal a line but I digress and suddenly I have a bunch of addicts jonesing with images of white powderly line on mirrors.
But our markets are strong until they aren't. oh sure hiccups and corrections may come and go, but look at that trajectory ~ despite all the idiots who are on one hand both helping and hindering.
It's almost like a fubared up ying and yang balance.
So to respond to all those who say our market is weak based upon it going down based upon the assumed false leak telling millions that there had been several explosions at the white house and that Obama ( not the POTUS) had been injured.
Ask any idiot trader on wallstreet what they would do if they heard that a terrorist attack just happened and the first thought in their heads would be to sell sell sell.
It reminds me of that scene with Eddie Murphy where he comes across some old white guy who's crying on a phone who's telephone cord is cut, but he continues to word out sell sell sell ? I'm guessing back in the day you actually had to call a broker to make trades or buy or sells ? lol..
Anyways Eddie gives him a stack of cash, and the guy suddenly starts saying buy buy buy..... F everyone with the biggest smile and smirk.
But now instead of human idiot traders, we have super fast algor trading within millionths of seconds, so when one program picked up on wording of white house ~ explosion ~ Obama ~ these programs basically shot first without any after thought ~ they basically did the job their human masters programmed them to do.
Luckily not enough of these machines or humans kicked in another flash crash, it was simply fixed within seconds and most humans had little to no chance of profiting unless they already had crazy orders in place.
I personally witnessed the event in real time, it was so quick and fast that it couldn't be explained until someone mentioned the supposed hacked ??? tweet of the false report on the associated press twitter feed.
So all it really did was to show people have fast some people have in being able to respond to events.
Now given the fact that Boston was actually attacked for real only made the false tweet more effective. However, if you had paid attention you could have picked up on clues as to whether it was legit or not, however for the high speed machines, unless they had sophisticated programming they may or may not had that same luxury and or maybe they did, but they saw an opportunity to make $$$
After all its all about making $$$ they put in bogus sell and buy data to jack up the system and test for vulnerabiities.
But what happens when one of these programs gets it wrong or really messes up ? can they pull the plug ? what if they sell the futures wrong and big time ?
Look to examples of Knight capital ? Lehman brothers ? MF global ? ENron ? Bears and Sterns ? GM ? CHrysler ? Palm ? Fannie & Freddie.
they all got it wrong at some point...
so long as there are profits and cash to flood into the equity markets,
this market is strong, despite a real world terrorist attack on US soil.
This market is crushing the supposed triple top and unless something really messed up happens, we are headed much much higher.
Apple be damned.
Strength & Honor.