Sometimes you have to just throw in the towel, know when to fold ’em, and join ’em coz you can’t beat ’em.. and that appears to be former fund manager Richard Breslow’s take on the current utter apathy in markets currently. His message is clear – nothing matters except technical levels – which ironically, none other than CNBC’s-own Jim Cramer admitted this morning “the market is completely divorced from whatever is going on,” whioch presumably means “buy it all.”
Via Bloomberg,
That which does not kill us, makes us stronger. A much debated concept, but in terms of navigating markets, there’s a lot of truth in it. Asset prices have been all over the map during the last week. Good news mixing with ugly news. Well-laid plans having to consider great uncertainty.
But one positive outcome is we have technical levels, and close ones, for just about every stripe of security class to lean on and whatever your directional inclination.
This post was published at Zero Hedge on Aug 16, 2017.
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