Stock Market Breakdown!

by Chris

Well, that deteriorated quickly.

Looks like I was wrong, and the expected bounce helped along by some judicous futures propping just crapped out.

We are now below yesterday’s lows:

And that’s with a stock futures ramp yesterday and a Fed jawboning moment.

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I guess when it’s time to get out, it’s time to get out.

Good luck US corporations with this little chart right here:

$583 billion in the first 3 quarters of 2018 that are now, collectively, all under water.

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Great swap of assets for equity there US corporations!  Balance sheets dutifully eroded right at the tippy top.  As usual, it bears repeating.

 

 

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