A diary of the thought process behind my investment decisions
I thought the rally in January ended because of bank reform news. Or was that in November? One of the previous breaks was made because of the bank crap. And one due to Greece. I don't think the market ever sold off hard without a a backdrop of bad fundamental news and media heads talking down the economy and the market. Which the media's only excuse now is due to sell on the news after earnings. Not as much conviction.
Alright I am not going to debate the Greek news right now but my remembrance was that it came out on the wednesday before Thanksgiving around the 23rd of NOvember. It came out, the market dipped and then was rebought and headed into turbulence for that time period. The market waffled for the remainder of November till the second half of December trading in a range. As for the January 21st, that was indeed the day that Obama introduced his ban on speculative trading by banks or whatever, the Volcker rule and that's when the market tanked those 3 or 4 days in a row going down over 5% in a straight line.That had nothing to do with InTC and was just coincidental.Yeah I understand the media and some other idiot strategists in chop shops are pointing out the market went down after INTC the last three times but they are once again selectively representing the facts to suit their argument.You might be right that the market dropped the next day after INTC. I don't have a chart going back to december with the dates. HOwever, i'm sure it's the volker rule plus shitty jobs and bad nfp numbers at the time that exacerbated things.
Yup INTC announced 1/14. Market traded choppy for a few days. Then Obama came out that morning on the 21st and then the market took a dive from there. Moved back up 150 point And here we are.
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