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Stock Market Stupidity Stoops to New Lows as Does Oil
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Lot of people riding the stupid train right now. The stock market opened its third week of the year up 150 points on the Dow and, by midday, proceeded to trip all over its feet again. It is getting funny to watch investors continue to bang their bullheaded, brainless, upper-respiratory junction they call a head against the market’s ceiling.
These people must be dumber than eggplants. So, let me have a little fun with a lesson in stupidity here. First, we start with today’s news:
Gains for US stocks continued to disappear after Tuesday’s opening surge as a fresh drop in oil prices put fresh pressure on the main indexes…. (MarketWatch)
Even though stocks plummeted in the Middle East on Monday when Iran announced it was coming on-line now that sanctions were removed and that it was raising production capacity, stocks in the US went up on Tuesday. Investors didn’t have a chance to bid on Monday because the market was closed for MLK Day. By Tuesday, a tiny spark that said oil prices had nudged up lit fire to a new rally. So, that became reason #1 that the US stock market took off.
It is also proof #1 that storks dancing on a keyboard could produce more intelligent purchases than one finds happening in the US stock market. The big news about Iran was right in front of their faces, and Iran’s oil hasn’t hit the market yet. So, you have to truly be dumber than dirt to think that any uptick in oil prices meant a thing or that it would last more than a few hours. As a result, as oil trickled back down in price, the sludge-brained market rally caved in.
MarketWatch goes on to quote one analyst as saying,
The market appears to be moving from a phase of traders “selling on rumor or anticipation of bad news” toward one of “buyers coming in to … scoop up bargains on the actual news.”
Bargains? Oh my gosh, the stupid train apparently accelerates into the curves. There are no bargains in an all-out economic collapse until all the unwinding is done. Today’s bargain will overnight become tomorrow’s head shaker: “Can you believe he paid that much for THAT? Guy must be dumber ‘n a fence post.” I might as well tank up on gasoline as “a bargain” at $1.90 per gallon when I know a gas station down the road is at 99 cents per gallon.
The post Stock Market Stupidity Stoops to New Lows as Does Oil appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/01/24/stock-market-stupidity-stoops-to-new-lows-as-does-oil/
