Tuesday, October 21, 2014
THE STOCK MARKET WAS GOING TO CRASH LAST WEEK: here's what you needed to know
The usual format of a chart first, then sarcasm about the chart second:
Remember how tech was a disaster area, and all these stocks were grossly overvalued because the NASDAQ had run up far too much? Cuz that was the story as late as Thursday.
Remember how Ebola was going to kill America, and weakness in Europe meant coming weakness in the US, and China was going to crash, and the dropping oil price was indicative of an oncoming worldwide deflationary spiral, and etc.? Cuz that was the story as late as Thursday.
Transports? I mean, really? Did the rail loads numbers indicate a 10% collapse in rail traffic?
It seems that the early October apocalyptic dry-retching of stocks was the pause that refreshes, and we can all wade back in, eh?