Thursday, August 7, 2014
Let me whip out my junk for you
Here's a pic of my junk:
Maybe it's more impressive if you back up and look at it from further away:
The last two times we had a JNK correction (every year in the early summer like clockwork) there was a lot more volume than this. Then again, people were more worried about things that might have some real economic importance (US government shutdown, Eurozone collapse).
This time people are worried about dumb shit like Russia not buying fruit, or Israel and Hamas going on their yearly killing spree. Or the US economy recovering for fuck's sake like that's a bad thing.
Seriously. People have already quit talking about the plane getting shot down over the Ukraine.
So the question is whether this is just a bounce to the EMA before a continued downtrend, or whether that drop last week was a bottom and we can get back to acting intelligently.