Tuesday, October 4, 2011
5p update-- Market spike based on nothing
Its 5:15p.. seems the cockroach Investors and traders were tired of waiting and waiting to get back in the buying game. So based on Absolutely Nothing, the market spiked over 400 pts in a span of 25 minutes to end at 10,808.
"U.S. stocks rallied...amid speculation European Union officials are examining how to recapitalize the region’s banks." - Bloomberg
What?? Huh?? The market spiked over 400 based on guess or assumption that EU officials are "examining" how to keep bankrupt banks from collapsing. And the market went up on That bullshit??
Reactions like this kinda makes one hope and pray for a Greek default.
We certainly don't want to see everyday people hurt but we won't hide it.. we are looking forward to seeing the professional sociopathic investors and traders take severe financial losses by month's end-- enough of a hit that they don't have the capital to immediately get back in the game after they take their beating.
People want to blame banks, governments, political parties for the mess the global economy is in.. They deserve some blame but ultimately, NO! It is the professional Investor. The entire global economy is centered around pleasing and appeasing the investor. What is best for him/her? What policy can a nation enact to make him/her happy? etc. The sole goal is profit, and nations and national economies be damned.