While the equity markets are "correcting", this might be a good time to visit Midway where they are having a one-day 10% discount on knives for National Knife Day.
Didn't know there was such a thing, or I had forgotten.
Anyway, the shipping is free on orders of $25 or more and no sales tax for those not residing in MO.
The markets have been on a big slide, along with crude and some metals, e.g., copper. The dollar is down against the euro and the yen, and bond yields are falling. All that is perhaps more interesting than the equity drop, but I'm not qualified to figure it out.
One wonders if perhaps the Fed is pulling money out of bonds to try to stem the bleeding in stocks. I think trading on the NYSE will be suspended if the drop goes below 7.5% in a day. That would be on the order of a 1200 point drop in the Dow, and as of High Noon, Eastern, it has recovered significantly to be less that 300 points down.
The Plunge Protection Team went to DEFCON 1, and the world is saved for one more day.
Full disclosure: Long, knives.
Didn't know there was such a thing, or I had forgotten.
Anyway, the shipping is free on orders of $25 or more and no sales tax for those not residing in MO.
The markets have been on a big slide, along with crude and some metals, e.g., copper. The dollar is down against the euro and the yen, and bond yields are falling. All that is perhaps more interesting than the equity drop, but I'm not qualified to figure it out.
One wonders if perhaps the Fed is pulling money out of bonds to try to stem the bleeding in stocks. I think trading on the NYSE will be suspended if the drop goes below 7.5% in a day. That would be on the order of a 1200 point drop in the Dow, and as of High Noon, Eastern, it has recovered significantly to be less that 300 points down.
The Plunge Protection Team went to DEFCON 1, and the world is saved for one more day.
Full disclosure: Long, knives.
"Full disclosure: Long, knives."
ReplyDeleteHeh, nice mash-up of events there.
I, and everyone else semi-aware, wonder how long the PPT can keep it up, literally. Gonna be an interesting week I suppose. Can't wait for September when the black swan arrives. Or was the black swan supposed to be the Fed rate hike in September that everyone was predicting which is now not going to happen. It's all so artificial and hard to follow.
That's been my problem. I kept thinking, early on, that the market is more or less a reflection of the economic reality. It's obvious now that it is too rigged and too easily controlled. There's no predicting anything except further manipulation.
ReplyDeleteNational Knife Day? I have never heard about such a holiday. It would be interesting to know about its history)
ReplyDeleteThat would be a good post. Thanks for dropping by.
ReplyDelete