Thursday, January 7, 2016

No Mountain Climbers on Wall Street

When you have a stock analyst calling it a dangerous plunge after a three-percent change in level, you've got an example of someone who should never, ever go into the mountains.  (CNN:  Wall Street braces for more big losses after China rout)

Kannafoot has been predicting this and, wtf, it's January.  The stock market always drops in January.

Maybe you lost a little jingle but likely Kannafoot did not because you can make money going up or going down on Wall Street if you know what you're doing.

Kannafoot isn't one of the greedy profiteering traders who are the reason we can't have nice things but he's a smart investor and he does his research.


Any change in Wall Street will have no effect whatsoever in at least one arena.  Bernie Sanders doesn't take any money from Wall Street but the other candidates may see their donated fortunes fall and that's always a shame when millionaire money isn't worth what they thought.


We're not going to write an analysis of Wall Street behavior and see Kannafoot if you would like to read one.  He knows the material and he enjoys writing of it.

As I go through Facebook, mostly I will be seeing memes and I scroll along ... complete crap, absolutely worthless crap, selfie, another selfie, then another fucking selfie, cat pictures, dumb as a rock ... looks knowledgeable ... more worthless crap ... here's an interesting one ... more idiotic crap ... and repeat.

Kannafoot has the knowledgeable bit and I don't understand what he writes because I have never had any personal commitment to Wall Street investment but I glean enough of it to know he's well-versed in the material.


So the gigantic, catastrophic, we're-all-going-to-die plunge in the stock market was about three percent.

Wow.  Maybe it's time to sell the mansions, Donald.  Yah, even that tacky, gold-plated monstrosity in NYC if you can find anyone tasteless enough to buy it.

(Ed:  Kardashians)

Of course.  Should have thought of that.

3 comments:

Anonymous said...

You might want to have Kannafoot explain the January effect to you
It generally results in an up market for January as investors take advantage of IRS rules allowing tax issues to be taken advantages in different years
I wouldnt worry about a massive sell off and decline There is dramatic support at the 16500 levels and 1940 on the S&P
So unless we break those or oil goes below say $31.
If we break those, then those who havent moved to traditional safe havens or cash could get hurt by as much as 15% or so
Most moved to cash when the Santa Claus rally failed to happen

Anonymous said...

The present correction is closer to 10% from the highs
Many stocks are already in recession levels Even Apple is pushing those levels
But I personally look at this is a buying opportunity over the next few weeks

Unknown said...

You all are playing in a world which has never made any sense to me. There are some things I see which don't make sense and, no matter how long I look, they will never make any sense. There is other stuff which doesn't make sense to other people makes sense to me but that stuff doesn't have the wizard trick of giving money back.