BreakOut

Remember the good old days when GS made a profit 91 out of 91 days in a quarter? PS Are bear market rallies often shaped like an inverted N?

Or Jerome on the Hill.

Le spectacle est fini.

Today might have been the best day to unload since the inception of specie.

1932, 1982, 2003 bottoms were from multi-year drops or flats with false “capitulations” along the way. 2009, 2011, and 2020 bottoms were brief and Fed-supported recoveries were quick. If and when we get another drop, if the Fed truly has lost its restorative powers due to inflation, buying the dips too early could again become a thing due to paradigms and mass conditioning.

Frazier came into the ring today looking as fit and healthy as I have seen him. No doubt this will be another great day for him…

I remember TNX hit 5.1 about 15 years ago and have been waiting for it to get back there ever since. I’m a patient guy, but…

Informative and respectful mush.

Drove the Turnpike across in ‘79. Even or odd license plates?

https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses

Not a single Frazier reference. They were everywhere in 2008.

Here is a poor job of quoting John Kenneth Galbraith from his book “Crash of 1929” (or him speaking in a documentary) ”Having had the night to think about it, people thought that ‘maybe I should get out’”.

Zafar, Zagood.

Looked like a winner to me. As someone said, cutting back from $80 billion to $70 billion is like a drunk cutting back from 8 to 7 beers.

Happy Birthday!