WE REMEMBER 1998 WELL!
We remember 1998 very well. There was some sort of Russian Ruble crisis. The market shaked and shuttered. The market topped out in July, had a vicious drop into the end of August (akin to the drop we just had into late August). It then rallied up into declining moving averages before failing (just like…
Traders Flee Emerging Markets at Fastest Pace Since 2008
http://www.bloomberg.com/news/articles/2015-09-29/traders-flee-emerging-markets-at-fastest-pace-since-2008-crisis
Icahn: Housing Bubble Could be Disastrous @TeamCavuto @FoxBusiness
http://www.foxbusiness.com/business-leaders/2015/09/29/icahn-theres-housing-bubble-and-it-could-be-disastrous/?intcmp=marketfeatures
NFL’s ‘Deflategate’ Appeal to be Heard in February @FoxBusiness
http://www.foxbusiness.com/industries/2015/09/29/court-order-nfl-deflategate-appeal-to-be-heard-in-february/?intcmp=bigtopmarketfeaturesside
Walmart & Whole Foods Targeted for Produce Waste @FoxBusiness
http://www.foxbusiness.com/industries/2015/09/29/walmart-whole-foods-targeted-for-produce-waste/?intcmp=bigtopmarketfeaturesside
Chesapeake Energy Plans to Cut 15% of Jobs @FoxBusiness
http://www.foxbusiness.com/industries/2015/09/29/chesapeake-energy-plans-to-cut-15-jobs-1975310223/?intcmp=bigtopmarketfeatures
Required Reading Of The Day
Obama, Congress to kick off budget negotiations Ralph Lauren hires Old Navy executive to replace him as CEO Lawmakers seek documents from Volkswagen Top U.S. spy skeptical about U.S.-China cyber agreement World powers struggle to agree on Syria
THAT WAS ONE UGLY MONDAY
This remains a global bear market, way overdue because of maniacal central banks that refused to and continue to not let markets be. Asset bubbles always lead to big cracks and to be clear, you are seeing big cracks. Asset prices should have never gone so far. Over the weekend, we penned these words: “Before the recent…