Stocks put in another ‘pop and flop’ kind of day, finishing nearly unchanged after a ranging day of highs and lows that were remarkable.
This is not bullish, and not a constructive action for equities.
Bully better hope that nothing untoward happens to trigger a selloff before corporations can start using their tax cut money and dodgy accounting booty to game their stock prices through billion dollar buybacks again.
They *could* end up like GE someday, after many billions spent buying back their stock and not reinvesting in the business. They are now teetering, and some fear they may fall over into bankruptcy.
But the managers who ran the stock buybacks have cashed in their big stock price related bonuses and options, and have taken the money and run.
Gold and silver put in a weak performance but managed to hold their recent gains as the dollar chopped sideways after its big selloff from the recent top.
There will be an FOMC meeting next week. I have included the economic calendar. They are not expected to do anything except to make noises, that may provide some insights into the expected rate increases to come, the next being in December.
If they try to sneak an extra one in next week that *could* roil the markets.
Try to be kind to those you meet, for everyone is bearing a burden of their own. Don’t take people for granted, but thank them for the little things that they do. I have never seen people acting with such aggressive foolishness and wimpish bullying in a very long time. What are they thinking?
