The Day Ahead: Chants From an Unhinged Market
By Brian Sozzi 11/01/12 - 09:00 AM EDT
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"Did you know that I'm utterly insane?" --Patrick Bateman, American Psycho
What we call the "stock market" is a downright impressive organism. Every second that ticks by, the market is acting kind of insane at a Patrick Bateman level, whether it's via a hotshot human or a buzzing machine. "Buy or sell?" "Good news or bad?" "Who wins and who loses?" These are a few of the issues that the market weighs daily. To that end, the market returned from a rare, non-self-induced slumber with vigor -- and absent the Friday the 13th disaster scenarios. But, deep in my very soul, I truly feel that investors ignored many important insane, silent chants from the market regarding its next move. Amid the window-dressing nonsense and the like, the market was crying, for it has been unable to shake the nasty fever it has carried around for weeks. I began the session with an open mind, thanks to four full days of analyzing everything and anything (as evidenced on Twitter). However, when all was said and done, there was a simple "Pour one out for my fallen homie" moment -- that homie, Mr. Market.