Still plenty to worry about. Thank goodness!

With “devastating” (if you believe either side) budget cuts less than 48 hours away, the Dow gains 170 points. You know how I feel about the so-called sequester—well, apparently, traders agree. Or if they don’t agree with me that, when we’re running a trillion dollar annual deficit, any cut’s a good cut, they apparently don’t seem to see the sequester as a rally-ending event. The “smart” money—at least the smart-sounding blokes CNBC parades across the screen throughout the day—say it’s all about the Fed. I say it’s all about buyers (be they institutions or individuals) believing that the companies they’re buying can sustain, if not increase, their present rate of earnings, and that present share prices don’t accurately reflect that belief. Although I suspect today’s big run up had a lot to do with panic-stricken short-sellers (those who make bets that a stock’s going down)—who thought sequestration might bring capitulation—covering their positions. I.e., the short-sellers, if only for the moment, are beginning to buy the buy-side story.

Now, as you’ve noticed, sentiment can turn on a dime: remember Monday? The Dow dropped 200 points. And beyond sequestration, there’s of course plenty to worry about. I could list a dozen concerns, beginning with the looming debt ceiling, but, frankly, it doesn’t matter—there’s forever plenty to worry about. And, believe me, that’s a very good thing; for bull markets need liquidity, and every bleary-eyed buyer needs a willing seller.

Share:

Recieve Between the Lines Posts to your Inbox

Sign up for lorem ipsum delores sin.

We care about the protection of your data. Read our Privacy Policy.
vulkan vegas, vulkan casino, vulkan vegas casino, vulkan vegas login, vulkan vegas deutschland, vulkan vegas bonus code, vulkan vegas promo code, vulkan vegas österreich, vulkan vegas erfahrung, vulkan vegas bonus code 50 freispiele, 1win, 1 win, 1win az, 1win giriş, 1win aviator, 1 win az, 1win azerbaycan, 1win yukle, pin up, pinup, pin up casino, pin-up, pinup az, pin-up casino giriş, pin-up casino, pin-up kazino, pin up azerbaycan, pin up az, mostbet, mostbet uz, mostbet skachat, mostbet apk, mostbet uz kirish, mostbet online, mostbet casino, mostbet o'ynash, mostbet uz online, most bet, mostbet, mostbet az, mostbet giriş, mostbet yukle, mostbet indir, mostbet aviator, mostbet casino, mostbet azerbaycan, mostbet yükle, mostbet qeydiyyat