This post is deliberately short but the essence of today was manipulation caused by engineered short-squeezes by trading desks and hedge funds. The markets are broken and the last 10-15 minutes of trading Friday made the case.
Next week things should become "normal", whatever passes for that these days. Economic data will flow and hopefully markets will respond logically. Earnings are about done so those are now out of the way.
My apologies for the rushed and abbreviated post but other events prevent us from being more comprehensive.
Let's see what happens. You can follow our pithy comments on
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. By Dave Fry, founder and publisher of
and author of the best-selling book
Create Your Own ETF Hedge Fund.
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