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Market Does What It Wants or NK?

Daily Rap 09-25-2017

The market was slightly weaker through midday, with the Nasdaq outperforming to the downside as it lost nearly a percent, led lower by the FAANG group and to some degree the Apple food chain. It would appear that some people finally woke up and realized that if the iPhone 8 is a dud, perhaps underlying businesses were going to be negatively impacted and the stocks should be sold.

Playing With Short Matches For those looking to capture downside action, that is probably as pregnant an area as you will find, although I would encourage folks to be very careful with their sizing and risk management. Even though these stocks deserve to get smacked, as does the market, that does not mean either will happen.

In the early afternoon, the market...more

Last year's posts for Ask Fleck

Q: ?PVG- ?News or Noise?


Fleck: I have described the setup several times in the last week or so. There is no new news, but the price was driven down on fears that are now looking misplaced and it has a huge short interest, as I have noted. Ergo, the strong action in a dull tape.
(posted: 9/22/2017)

Q: Having been managing money for 30 years, I'm beginning to take a new angle on the market (one must evolve). I think we are in the midst of a new age, the dawn of the machines. These machines eat human fear. They have one rule, buy fear. Fear is a human emotion. After all, the market has survived everything thrown at it over the years and is a compounding machine. The problem is that the human element has almost been squeezed out of the market. What will happen when there is no fear?

Fleck: I have no idea, but it's your thesis, not mine. :) FWIW, I don't think there is much fear right now.
(posted: 9/22/2017)

Q: bill: are you adding to your gold mind stock during this correction?

Fleck: I'm replacing some stuff I trimmed during the rally, but honestly that doesn't mean anyone else should do anything.
(posted: 9/22/2017)

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The bottom's in...