It is actually kind of cold here now! Mid fifties and very wet makes it feel even colder. May have to turn back on the heat for tonight, wow!
What a Relief!
Turnaround Tuesday delivered the goods, and a big rally occurred today in just about everything. I had reset my bounce picks for last night, and had on standby orders for ALIM, SNCR, and BKH but of course 2/3 of the jump today was right at the open so unless you were in yesterday or got in pre-market a a good price most of the gains went off in 1 second at the open. What can you do.
So is that it? Is the monster (kidding) 6-7% move down in the markets over? Reading around it seems consensus is that it is for a while. Whatever the markets were pricing in downside wise must be all set if a multi week rally is at hand. Today's action did damage to my short plays of SH and PSQ. There are plenty of charts that look much better after today on the long side. I figure to sit tight until after Thursday's action and decide what's next trading wise then.
Big picture I still see a slowdown in progress, and the removal of QE which served as a tremendous psychological boost is at an end. If there was a one off shock, like Japan, I would be more apt to call an end to the trend change and look for much more upside. As economic data comes in slower and FED stimulus is weened off, I don't think the overall trend can be switched as of now. A break and close over 1300-1305 on the S&P 500 may change my mind.
Welcoming the Robot Era With Open Arms
It concerns me that Economic Disconnect is perhaps the only voice of reason and discussion about the certain takeover of the Earth by Robots in the near future. While many feel their Roomba is a nifty tool to clean the floors, I see the start of humanity's demise. Maybe it's just me.
My friend Downtown JB of TRB sent me an interesting story via Laughing Squid:
Shanghai Man Wears Homemade Mark I Iron Man Suit To Work
Here it is:
Your first idea about this maybe:
-What a dork!
-I LOVE IRON MAN, WOW!
-Too much time on his hands...
And those are all reasonable reactions. Allow me to tell you what I see.
I see a guy trying to mimic what he sees as robotic superiority. Call it robot envy.
In the classic novel World War Z ,the Zombie War, there was a section where remaining humans were so shocked and traumatized by the zombie apocalypse, they started to behave like zombies and even tried to roam the streets as zombies, hoping to fit in to the new gruesome era. Made no difference, the real zombies just ate them up.
So lets just get something straight right now; there will be no chance to 'fit in' with the robot era. No AI enabled machine is going to see your old Facebook page, notice you wearing a suit like this one, and calculate "Oh, that carbon is so cool, trying to go all silicon gangsta! We should allow him a place in the new world!". It is not going to happen. In fact the robots will look on humans trying to become more machine like with concern, as cybernetic human hybrids may threaten them. No, all will be dismissed with extreme prejudice.
Here ends the lesson.
Have a good night.