Wednesday, September 16, 2015

Market commentary, 9/16/15

This one may be a new feature.  Kind of a daily commentary on the disaster unfolding on the large in order to match up with the disaster unfolding closer to home.  A bit of gallows humor, there.

But I suppose that nobody is amused.  Oh, well.  You can't please everyone, so you just please yourself.  That's a Ricky Nelson song, by the way.  Who's Ricky Nelson?  Maybe old timers remember him, and well, I am certainly one of those.

I've seen a few market downturns.  It looks like this one is still on.  The market sells off on volume, and rallies on low volume.  Of course, with the paper money regime we now have, the plunge protection team may intervene if things get a little too hairy, but the general, overall theme is down as best as I can tell.  It looks like a rally now, but a look at the volume is unconvincing.  Well, so much for my less than expert opinion.

Here's a chart for your perusal:

I have mixed feelings about a bear market.  I am positioned to maybe make some money if it falls hard, but it isn't going to be as much as I thought even if it does happen.  Maybe it would be better if the market behaved well, but nothing behaves well anymore, or so it seems.

A word of wisdom, if you are generous enough to call it that, and I am, cuz I like to have certain illusions about my abilities--- the market is a dangerous place.  My exposure to it is limited, quite limited.  Perhaps yours should be too.  The market is a casino right now.   The casino always wins.  In the end, they'll get all your money if you keep playing.

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