The Ugly Economy
Trader Scott’s Market Blog
October 29, 2016
For many years, especially in regards to the stock market, I have vehemently disagreed with the folks who have claimed the stock market is a huge bubble and will therefore (soon) crash. The people who have been claiming that since 2009 have been spectacularly wrong. (It doesn’t mean I’m bullish on stocks currently.) These stock market bears (mostly permabears) have rested their crash thesis on the belief in a horrific economic “recovery” and worse economic conditions down the line. I completely agree about the economy, but economics does not equal markets. I have believed for years the horrible economy is one of the best things stocks had going for them. And the (often fraudulent) earnings reports from companies would drag the market lower is another claim. So, for many years all of those claims have not happened. But, to me, everything in markets is about timing. It is my main focus. So, many of the permabears will soon be getting their wish, but unlikely a crash – more of a grind lower. The market is finally now in a weak enough position to where “bad news” will lead to selling. So here is an article from Zero Hedge which discusses the very negative viewpoint of the economy from companies around the globe. And, mind you, this is with interest rates at the lowest in history.
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.