If this doesn't wake people up to the unreality of the stock 'market', nothing
will. Hertz has ripped higher 8 days in a row, surging over 18% in that period
as analysts and talking heads piled on proclaiming how wonderful it is.. and
then:
*HERTZ HAS DECIDED TO WITHDRAW 2014 FINANCIAL
GUIDANCE
*HERTZ EXPECTS TO BE WELL BELOW LOW END OF 2014
GUIDANCE
Today the S&P futures traded the lowest volume of the year today (for a
non-holiday trading day) and volume has slid consistently lower as this
rally of the last 8 days. The S&P outperformed today (up over 0.5%) as
yesterday's oil-is-falling-so-buy-Trannies meme reversed into
oil-is-falling-so-sell-Trannies which ended the day almost unchanged.
The Nasdaq made new 14-year highs, up 5 days in a row. Treasury
yields dropped notably early on then surged higher as US stocks opened (30Y
+8bps on the week).
Commodities in general were clubbed like baby seals with copper, silver, and
WTI hammered (but not Brent) after the inflation/housing data
leaving oil under $95 - its lowest in 7 months. Gold fell much more modestly
(but ended below $1300).
AAPL closes at all-time high.
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
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