Submitted by Bill Bonner of Bonner & Partners (annotated by Acting-Man's Pater Tenebrarum),
Black-and-Blue Crash Alert Flag
Let us begin the week “on message.” The Diary is about money. Today, we’ll stick to the subject. Old friend Mark Hulbert has done some research on the likelihood of a crash in the stock market.
Ye olde tattered Crash Alert flag… should it be unfurled again?
For today's dose of pre-market entertainment, we go once again to Dennis Gartman, who clearly perturbed by the violent turnaround in global stocks yesterday appeared on CNBC where the "closely followed market-watcher" said the early week's market gains could continue for the next couple of weeks.
"Historically when that happens, we carry through. So I think you're likely to trade better — maybe not today, particularly — but I bet by Friday we're higher and I bet by next week we're higher again," Gartman told CNBC in London.
Back in December the topic of insider trading by prominent members of Congress hit new highs when as we reported at the time a "Prominent Tennessee Senator Fails To Disclose Millions In Hedge Fund, Real Estate Investments." The politician in question, Tennessee republican Senator Bob Corker, who according to Roll Call was recently the 23rd richest member of Congress...
... and the company under focus: a Tennessee-based REIT, CBL & Associates.
Follow EM or not? That is the big question that BofAML asks as once again Emerging Market stocks are decoupling (lower) from an exuberant US equity market.
Submitted by David Stockman via Contra Corner blog,
The posse of fools in the Eccles Building is so petrified of a stock market hissy fit that it has more or less created a Wall Street doomsday machine.
After trolling on the zero bound for 89 straight months now, the FOMC falsely believes that it has levitated the U.S. economy to the cusp of full-employment via massive liquidity and wealth effects pumping.