With the Fed Pledged to Complete Wall Street Backing, There's No Top In Sight

At the Close, 5/15/17:
Dow: 20,981.94, +85.33 (0.41%)
NASDAQ: 6,149.67, +28.44 (0.46%)
S&P 500: 2,402.32, +11.42 (0.48%)
NYSE Composite: 11,614.23, +67.18 (0.58%)

Welcome to the asylum.

Just for reference, a random look at stocks from a one-year perspective.

On May 16, 2016, here's where the major averages closed.
Dow: 17,500.94
NASDAQ: 4,769.56
S&P 500: 2,052.32
NYSE Composite: 10,250.49

OK, so those look like nice gains, right? How much, percentage-wise, through today's close:
Dow: 16.59%
NASDAQ: 22.45%
S&P 500: 14.58%
NYSE Composite: 11.75%

The obvious question is, how long, with the current bull market more than 8 years long (second longest in market history) can this continue?

Skeptics posit that the entire global financial structure is a massive Ponzi scheme based entirely on fiat money backed by nothing, while realists may refer the old "go with the flow" ideology.

With the Fed continuing to be accommodative via historically low interest rates and the continued buying of financial assets by central banks, there may be no better time to be in the market.

Whoever it was who coined the term, "don't fight the Fed," should be sainted immediately by Pope Francis. This bull market could last another two years or end in two weeks. For now, nearly the entire investment community (approaching 100%) is bullish on stocks, which typically signals a turn of fortune. However, this time truly is different. Never has there been the levels of accommodation and asset purchasing by central banks, who eventually, if current patterns play out, will own the entire market, at inflated prices.

Then what?

Global hyperinflation? It could happen, but that will take time.

Stay the course. This is the age of easy money.

Stocks Little Changed For Week With Tech Titans Continuing Leadership

Taken as a whole, the week on Wall Street was about as exciting as a Gheorghe Zamfir concert, without the music.

Stocks gyrated through very narrow ranges, extending a pattern that have prevailed - with only minor aberrations - since late March. In that span of time the major averages are roughly even on a daily and weekly basis, the major exception being the NASDAQ, which continues to climb without regard to fundamentals, driven largely on an odd combination of momentum, hope, faith, greed and a noticeable absence of fear, pricing out major tech companies, especially Alphabet (GOOG), parent of Google; Amazon (AMZN); Apple (AAPL); and Facebook (FB).

Those four companies have outperformed the broader market and carried the whole of Wall Street with it. In an investing environment largely devoid of critical analysis, these "no-brainers" of tech 2.0 or 3.0, or whatever moniker one wishes to place upon the rapid multiple expansion in this space, a few stocks make for giddy headlines.

The facts be damned; all of the investment money from funds and pension plans are routinely flowing into this small piece of the pie, crowding out smaller firms which operate without the largess of the Wall Street elite connected by the hip to the Federal Reserve.

It's a troubling scenario which bears watching closely as the bull market continues to run at its own pace. With the Fed and central bank cronies underwriting the entire market, there's a fakery here that is reminiscent of the tightly-held mainstream media.

Happy hunting!


At the Close, 5/12/17:
Dow: 20,896.61, -22.81 (-0.11%)
NASDAQ: 6,121.23, +5.27 (0.09%)
S&P 500: 2,390.90, -3.54 (-0.15%)
NYSE Composite: 11,547.05, -16.55 (-0.14%)

For the week:
Dow: -110.33 (-0.53%)
NASDAQ: +20.47 (0.34%)
S&P 500: -3.54 (-0.15%)
NYSE Composite: -68.54 (-0.59%)

Retailers Post Losses, Send Stocks Reeling Before Late-Day Recovery

Stocks finished lower, but well off the lows set earlier in the day, as Macy's and other retailers continue to under-perform the broader market.

The retailer reported earnings well below expectations. Kohl's, Penny's, Sears, Nordstrom and Dillards were also big losers on the day. Macy's same-stare sales plummeted 5.2% in April.

The demise of brick-and-mortar retailing is a continuing trend that shows no sign of abating as Americans turn to online retailing as their preferred buying methodology. Store closing in malls and shopping centers around the country have only accelerated as company CEOs seek ways to cut costs and salvage what remains of a buggy-whip-type industry.

Alongside retail, cable companies and network broadcasters could be next, as consumers, enraged over continued increases in television subscription services, cut the cord and elect to go completely wireless.

These trends should continue until most of North America sees malls and cable and phone lines as mere remnants of a wired, consumer-driven past.

At the close, 5/11/17:
Dow: 20,919.42, -23.69 (-0.11%)
NASDAQ: 6,115.96, -13.18 (-0.22%)
S&P 500: 2,394.44, -5.19 (-0.22%)
NYSE Composite: 11,563.60, -35.38 (-0.31%)

Why Is The Internet Such A Pain In The Behind?

Why can't we get what we want from the internet?

Three things that are frustrating:

1. Yahoo Finance - all I wanted was an orderly listing of the Dow, S&P, NASDAQ and the NYSE Composite. I have it in my portfolio watchlist, but Yahoo Finance can't seem to understand that I want those items on the sidebar when I open the Finance home page. Instead I get "Recently Viewed," which is garbage, since I seldom look at stocks on their horrifically-slow, impossible-to-navigate website. I tried to customize my view - three &*@#$%@#) times - without success. Why did Verizon buy this price of junk? And for how much? They'll need 50 coders working full time for a year to unscramble this spaghetti code. ArgHHHH!

2. Cell plans - I broke down and went with an unlimited plan via a hotspot because I'm out in the sticks where theere is no cable. It's just over $100 a month, but, the kicker is that if I wanted to add my phone, it would have cost another $20 a month. Seriously? I hardly use my phone, so I kept my super-cheap pay-as-I-go plan, which costs me about $6 a month, since I have grown increasingly reluctant to talk to anyone unless absolutely necessary. I have a flip-phone.

3. Ebay, Amazon, and other online "marketplaces" - All I want is a place where I can list my items for sale and link back to my website, which is a price guide for what I sell. I'm not trying to circumvent paying fees; I'm just trying to get more traffic. There's no way to do it, anywhere, without paying through the nose, and even then, as in eBay's unbelievable terms of service (TOS) - which runs about 90 pages (no, really) - I might be fined, listings removed and/or banned. If the internet was built primarily to LINK information in an organized fashion, why do these enormous data=hogging public companies insist on restricting user access?

It's a mess, thanks to greedy, useless, overpaid CEOs and their mindless lackeys.

Otherwise, everything is rosy. Buy stocks.

At The Close, 5/10/17:
Dow: 20,943.11, -32.67 (-0.16%)
S&P 500: 2,399.63, +2.71 (0.11%)
NASDAQ: 6,129.14, +8.56 (0.14%)
NYSE Composite: 11,598.99, +31.47 (0.27%)

Apple Tops $800 Billion Market Cap; NASDAQ Closes At All-Time High

Stocks were basically flat on Tuesday, but the NASDAQ finished at a new record high, paced, in large part by Apple (AAPL), which topped $800 billion in market cap on the day's gains.

Apple's most recent rise is likely due to two major investors, the Swiss National Bank (SNB) and Warren Buffett's Berkshire Hathaway, which has taken a major position in the world's richest company by market cap.

That's not surprising, given Buffett's record of success over the years, though it is hardly a genius pick. After all, if Buffet knows the Swiss National Bank is one of Apple's largest shareholders and continues to buy, why not join the party?

Buffet is well-connected and pretty bright, but owning Apple is pretty much a no-brainer in these days of central bank asset boosting.

At the Close, 5/9/17:
Dow: 20,975.78, -36.50 (-0.17%)
NASDAQ: 6,120.59, +17.93 (0.29%)
S&P 500: 2,396.92, -2.46 (-0.10%)
NYSE Composite: 11,567.52, -27.74 (-0.24%)