Seriously, the longer I do this more intolerant I become with the whole financial media/services/advice complex. Stoopid MSM headlines this morning…
Dollar holds gains as investors set their watches for jobs data (ooh, the tension mounts)
Markets counting down to big Jobs Friday (T-minus… to BIG Jobs)
Gold loses shine as Fed feelings lift dollar (blah blah blah…)
European stocks hemmed in with ECB minutes on deck (of course, there has to be a reason they’d be little changed; this one’s as good as any)
This is why the Stock Market’s complacency is about to end (tell me genius, do tell… )
Dow, S&P 500, bonds trade like a Fed rate hike isn’t cause to stress out (because it isn’t, Captain Obvious)
And that is just the MSM; factor in the opinion and propaganda from the blogosphere and the gold bug
cult “community” and it’s no wonder people get confused. I get email from very decent and intelligent people asking what I think is going on, what is going to happen. It is obvious that the disparity of opinions (much of it stated confidently as virtual fact) flying around out there has people flummoxed (hey, that’s a word I’ve never written before, ever in my life).
But there is no ‘IS’. There are only probabilities. A good bit of the crap in the MSM and from the lesser lights in the blogging ecosystem speaks in definite terms because it is either trying to get eyeballs or it is pitching its dogma to its own gain. On any given day it seems like a majority of the financial complex is hanging an ad in its window saying “come consume what I have to offer! I’m right and here’s why…” and then the story changes for the MSM as it simply hangs new ads in its window the next day; and as for the lesser touts?
Why, they simply start reporting the news, as in… Thought bubble: ‘Shit, I was wrong big time to be touting that trend even after it ended, but I need to figure out a spin…’ Stated publicly: “Gold and Silver are in a correction and support looks to be in the…”
So tomorrow is “big Jobs” Friday. Whoop de doo! The Semiconductor Equipment sector gave its signal so many months ago. Some people fought me on this, either knowingly (you know who you are) or from an expert’s perch, unknowingly. Also, Brexit did not end the world, Europe is talking about tapering QE and things have held up just fine.
Now it’s “big Jobs” week. The ultimate lagging data point will be reported tomorrow and if it goes over 200K (experts are forecasting 169k) there will be a cacophonous uproar. But we will not be surprised because we had early, forward looking data months ago (which has already manifested in a big jobs recovery over the last few months).
I guess all I am saying is will you please tune down the cacophony? It is unhealthy.
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