It Appears We Got Confirmation of the Bubble Bust Yesterday

At 10:17 AM CDT yesterday our FANG / 10year interest rate chart rolled over and then on the close dropped to 4.18. This morning at 10:08 CDT we are seeing a value of 4.10. Here is the chart from the close yesterday.

Overall market Update today at 1:00 PM CDT

The market is like in a stage of disbelief, the big speculative traders cannot get out of their long stock positions, they have to wait for some bullish news. Like maybe they are hoping that Trump’s drug guru Scott Gottlieb will be right, this is the end of COVID. Even if he is right, that doesn’t help the over valued stock market.

Here are the stock prices at 10:17 AM CDT yesterday and !:00 PM CDT today.

S&P 500: 4450 yesterday, 4447 today.

Nasdaq 100: 15294 yesterday and 15282 today.

SPXS, my favorite 3X short S&P ETF, what we bought yesterday: 31.14 yesterday and 21.13 today.

SQQQ, my favorite 3X Nasdaq 100 ETF, what we bought yesterday: 7.69 yesterday and 7.72 today.

And it is Friday…

So be patient, The Funny Money people will probably throw a lot of cash at the market on the close in order to paper over the problems. They cannot risk another down week.

Leave a Reply

Your email address will not be published. Required fields are marked *

five × five =