Stocks were slumping today from the open, with (AAPL) having taken a dive, and a few of the major indices with it.
There was no particular reason for this fundamentally.
My own theory was that the funds were painting the tape with some seriously heavy handed brushstrokes into the end of the month in quiet trading last week. And today was the start of a new month. The paint was dry, and the market had a ‘technical correction.’
Whether this was correct or not it ‘worked’ for my portfolio which was long volatility and short the Russell 2000 coming into this mess.
Non-Farm Payrolls later this week. More nonsense to follow I would assume, until the music stops.
There is no reform in the markets, which are still possessed of markedly criminogenic tendencies. And so there is not likely to be any sustainable reform, with the body politic afflicted by toxic blood poisoning throughout its financial and political processes.
This is a shame, and the indifference of our ‘ruling elite’ to it a disgrace.
Have a pleasant evening.
