The collision of global markets and social mood

Thursday, June 26, 2014

Two Charts Until The Hookah-Smoking Caterpillar Gives The Call

About all I care about at this point in the market . . . two charts:




Yesterday the market reacted to the worst GDP figure since 1st Q 2009 and the worst miss in durable goods orders thus far in 2014 by rallying all day. When markets cheer bad fundamentals in hopes of more stimulus, are they strong, or are they addicted?

You know the answer. The market knows the answer. But for now, until the hookah-smoking caterpillar gives the call, all the market wants to do is feed its head. Enjoy the ride.™

When logic and proportion have fallen sloppy dead
And the white knight is talking backwards
And the red queen's off with her head
Remember what the door mouse said
Feed your head
Feed your head

White Rabbit by Jefferson Airplane on Grooveshark

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