DrStool

That refers both to the market and to me. This morning I am driving from Zagreb back to Zadar, the coastal town that I left back at the end of February. I should be back online in the afternoon your time. Until then, take what they give you!

That shakeout today was a stop running work of art by someone.

What a nightmare. At least I've had only long picks in Technical Trader - They're doing great. https://liquiditytrader.com/index.php/2020/05/25/heres-who-loses-when-technical-indicators-are-bullish-but-liquidity-is-bearish/

Unmazing.

Now the CDC warns that antibody tests are inaccurate.

False BO? Stay tuned.

Jesus- I just saw the news that the dictator is threatening to shut down Twitter and other social media platforms. As if he had the power. What does the asshole hope to achieve with empty, moronic threats like that? He's going full scorched earth now.

Tomorrow I will drive a rental car one way from Zagreb to Zadar. The cost of a one way car rental with gas and tolls is the cost of two weeks of rent on the apartment. That's how disastrous prices of holiday rentals are. The car is still priced at normal one way rental pricing, which is kind of surprising. I shopped but there were no deals.

I am a bear at heart but strive relentlessly to be fanatically objective in my analysis. This tends to result in a certain degree of cynicism. 😄 I have always loved your take on things over all these years. For those of you who may be unaware, Jimbo has been posting here for 18 years from Down Under! He's probably asleep right now. 😄

Bears are doomed to live lives of suffering, debasement, and degradation. We need to wake up, smell the coffee, sniff the roses, and drink the koolaid.

Well, they couldn't stick the landing, but they get 3 tries.

Not correct. The Fed does not buy assets from investors. It buys Treasuries and MBS from Primary Dealers. The original seller of the Treasuries is the US Government. The original sellers of the MBS are typical the GSEs but my be investors in some cases. The first trade in the execution of monetary policy is the Fed's purchase of the paper from the Primary Dealers. Their business is to accumulate more inventory, mark it up, and distribute it. Investors are the customers of the pump and dump. They are the marks. And when we say "investors" we're talking about the whales-- the institutions. Not the guys at the dollar slots, roulette wheels, and $5 blackjack tables.

Hitting the road. 3010 is the key. If it holds, bears have a shot. Otherwise 3050. I'll check in by phone later today. Ciao!