Actually its getting 'priced' today, but will start trading tomorrow.
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IPO market is super hot. Companies coming in droves, with no revenues or profits, and surely double on a day of IPO. If I was ever looking for an event that could mark the top of this bull market... TWTR would do. What top? This is the 4th biggest bull market in modern history. Tulips, yep
Since before Gov shutdown, I am having a hard time catching any data releases. There is very little discussion on Bloomberg and NPR. Admittedly, I watch even less news than before, but not completely cut out, so something should have gotten to me. OTOH, ZH featuring articles about major misses and deterioration of all kinds of economic data, or at-least parts of it.
btw, I am reading ZeroHedge on purpose. There is no other website I know of, that offers real important news fast, plus analysis of economy and financial markets in real time. The only drawback is that Tyler offers it with a bit more hysteria than I would prefer, and with definite perma-bear bias that I share at this time (never mind that more than half of my portfolio is long at this time).
From ZH: here are dates of tops and bottoms of all bull and bear markets from 1929
Field of research is narrowing. Air is really thin up here
this the fourth biggest bull market in US history
http://www.zerohedge.com/news/2013-11-04/4616-sp-feds-ultimate-goal--------------------------------------------------------------------------------
There is going to be a 'scheduled' electric grid shut-down on November 13-14 to test US/Canada electric grid. info is very scarce, mostly rumors.
11-13-13 Another date too easy to remember (like 9/11, 7/7 etc)?
Also it seems too easy to make parallels to other false-flag events of recent past and how gov ... and bla-bla-bla
I asked an opinion of RedDragonLeo - a major doomsday expert, numerologist, Legatus watcher etc. Guy is very skilled and called in advance every major top over past couple of years, except none of that ever worked. So much so, he had to resort to penny stock pushing/pumping... very sad.
Red replied here: http://reddragonleo.com/2013/09/28/the-stage-is-being-set-for-a-possible-3000-point-drop-in-the-dow/#disqus_thread
Here is an excerpt:
"I heard about that electric grid shutdown too but so far ever last thing predicted since about 2009 forward never happened. We all got scared with Planet Nibriu, Mayan Prophecy of "the end" in 2012, and dozens of other scary forecasts... but none of them happened. I don't think this one will either...
...While a pullback is still likely to happen I'm starting to think that they are going to rally this up much higher then we believe possible next year, and maybe the year after that too? While you can't trade off what Lindsey Williams says I do believe his statement that the elite aren't done creating enough debt yet...
... The next meeting is Feb 6th-8th, 2014 but until we top 2000 SPX I wouldn't even think for a minute that the "real crash" is coming...."
Like I said, Bears are Extinct.
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I don't think i mentioned it before in this journal, but there seems to be an almost a determined effort to destroy financial industry. Knight, PFG, MF Global, SAC etc are gone; and numerous cut backs of trading desks across financial instruments. Not to mention S&P Chicago pit, now almost deserted.
Banks aren't helping themselves either, as widespread market manipulation scandals come to light.
Here is Matt Taibbi of Rolling Stones:
"The only problem is that the scale of the misdeeds in these various markets is so enormous that even the most half-assed attempt at regulation will cause a million-car pileup...If they're guilty, they're done."http://www.rollingstone.com/politics/blogs/taibblog/chase-isnt-the-only-bank-in-trouble-20131105
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This is how this shit really works these days. The real pro's of Wall Street, the modern day market makers, 'specialists' - algorithm builders. Complex system of markets is more complex than ever.
http://youtu.be/GEAGdwHXfLQ
http://www.zerohedge.com/news/2013-11-04/exposing-wall-streets-hidden-code
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ECRI's Lakshman Achuthan on Bloomberg
"we believe a US recession began in 2012"
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