As we write this, the dow is back to the 200 day moving average. This occurred on Oct 9, 2013. That day, the dow reversed up, had a monster up day the next day…and never looked back. We’ll be watching closely to see if it gets defended at this monstrously important area. It would be normal to bounce off this area the first time it is hit off this move down…but then….?
We nailed another Super Bowl. The only game we lost since 2000 was the NYGiants against Baltimore. To be fair, we took the Giants in both games against New England not because of our head but because of our heart. We got lucky.
But last night’s game for us was easy. Ok…nothing is easy when handicapping but we had some strong thoughts. First off, we watched every Seattle game this year because we had the Seattle defense in fantasy league. I do not think all the genius prognosticators realized how good this defense was. They are fast, they hit hard and they have great technique. But that was not the real reason why we liked them. We liked them because of the great contrary indicator we talk about with the stock market. EVERYONE LOVED DENVER. OK…not everyone but most. GAMBLERS LOSE. So when the masses go one way, we tend to go the other way. But the other part of the equation was the line. For a game where everyone loved Denver, the line was too low. For the percentage of people that loved Denver, we thought the line should be 5, maybe 6. But the odds makers are smarter than the public. The line stayed below 3 tom attract Denver money….and attract they did. Floyd Mayweather bet $10.4 million on Denver. Money Mayweather has a little bit less today.
The contrary indicator worked once again but little did we know just how much better Seattle was. This was not just a one-off beating. This is a team that was head’s above Denver. They were quicker, faster, harder hitting and took the heart out of Denver early.
Now everyone knows what we aready knew. Bruno Mars is one of the great entertainers on this planet. We have seen him twice and were mesmerized twice.
Another wasted life…Philip Seymour Hoffman…dies at a young age in a self-afflicted death. Do not hesitate to show this story to your kids. While the assclowns who run this country want to legalize pot and in some cases, other drugs, the drug issue, the addiction issue, the abuse issue remains front and center not just for adults but for our children. I wish my President, who said pot was not as bad as alcohol, would have yelled and screamed during the SOTU these words….DON’T DO DRUGS!
As we write this, markets are rolling over from a lower stairstep. We suspect you know by now this is not the garden variety pullback we have been seeing for the past 15 months. We will have a bigger report tonight on the markets as we are still recovering from 4 hours of sleep this weekend. Yes…the Super Bowl parties were great.
For sure, they screwed up. For sure, they blew it in Atlanta…and for sure, the mayor is sick about all this. Do we need these sycophantic, journalistic imbeciles that say nothing bad about and defend their own…bully someone who isn’t?
Low volume bounce…with the fed ahead. Turkey also did some stuff while show was airing.
Don’t you feel great knowing this guy has a vote?
Rarely better? The old line DON’T PISS ON ME AND TELL ME IT’S RAINING comes to mind.