Friday, February 12, 2016

Was Time Warner reading my blog?

Suddenly at 8:57 last night - bang! No internet, no TV, no phone.  That'll teach me to tell people how to avoid their silly rental fees. *

Later I found out that it wasn't just me, but for a moment I was ready to slip over to the side with people wearing tinfoil hats.

Speaking of crazy conspiracies...have you noticed 2.5% jump in stocks since yesterday afternoon?  This might be one of the world's greatest coincidences of all-time, but yesterday as the S&P 500 slipped right down to that critical 1812 number that was about to cause sell orders to flood the market when a strange oil headline crossed about the prospect of OPEC meeting to cut production.  This headline single-handedly saved the stock market as oil stocks spiked dragging everything else along for the ride.

Today we had a variety of headlines that seemed to indicate that the Fed was not seriously considering negative interest rates at this time (but Japan said that just one week before going to a Negative Interest Rate Policy).  This should have taken some wind out the market if they were hoping for more free candy from the Fed, but the computers that read the headlines missed the context and only picked up on the words Fed & Negative Interest Rates.  This sparked some more panic buying in the morning which beget more buying and the week was saved.

Now we have to deal with the fact that
* the oil headline that saved the market has been ignored by the only parties that really matter - Russia & Saudi Arabia (who appear to be ready to go to war in Syria against one another so I'm thinking they aren't in a real cooperative mood)

* the statement issued to the WSJ was sent around midnight in the middle east which seems a bit odd

* and even the WSJ questioned the validity of the production cuts, but no matter, the active traders had their best week in years and you get to sleep better this weekend as the stock market avoided collapsing for another week.


PS - don't buy any of the nonsense headlines that today's rally was sparked by strong US retail sales. They were wildly over-inflated by seasonal adjustments and if you believed those numbers you'd be selling stocks today because it would bolster the Fed case for raising rates further.

* A special note for Time Warner customers: They are starting the campaign to add a set-top box rental to your account.  If you currently just run the cable wire into the back of your TV, that will no longer work as of June 2016 and you'll need to get a device (like a $40 Roku) or rent a set-top box for $3/month from your friendly neighborhood cable behemoth. For someone like myself with 4 televisions in the house that is $12+/mth forever and I wonder if they'd ever raise the price of the rental? :)  I'm buying an HD antennae and if that provides an adequate signal I'll probably cut the TWC cord for good.

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