Futures are up. Europe is up. The UK is up. What? How can that be? We just had another terror attack. This one targeting innocent children and teenagers. All they were guilty of was attending a concert for one of their favorite pop stars.
First off, our prayers go out to all affected. Unfortunately, no matter how good surveillance and security is, these scumbags are in the weeds. These scumbags can just go on the internet to figure out how to make a homemade bomb. Frankly, we are surprised there isn’t more of these incidents.
As far as markets:
The shock value! Through the years of a decent number of these attacks, have worn off. Markets do not sit around thinking an attack is about to happen but markets now know there is a chance of one happening. The more they happen, the less the shock value. Sorry to put it in these terms but it is true.
The F.U. effect! Yup…markets have their way of sticking a certain middle finger in the air at these scumbags. It’s their way of saying F.U. You are not going to stop is. Yes, markets do have a life of their own.
The world will go on! Again, sorry to put it in these terms as many are suffering in the worst way today. But it is true. The world does not stop.
More than half our market is in a bull market and European markets have been strong. That does not change so easily. If markets were bearish worldwide, we think there would be a bigger effect in the near term.
More importantly, we are sick over another incomprehensible attack and our prayers go out to all affected.