Friday, July 13, 2012

TGIF

We sit through a 6-day stock market shit storm and see every single Dow point down erased in about 30 minutes at the start of todays ramp.   then we trade about 25% lower average volume today than we have on average over the last 200 days. And even after taking a 9 billion dollar loss on derivatives trading, and the Libor scandal unfolding over at Barclays, JP Morgan still manages to be up 5.96% at the end of today and up 6.03% for the month. Yes, it's Friday in the stock market.  And it's summer.

This too shall pass.

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