Stocks were weak today, with a decided lack of new economic news, based I think on ‘jitters’ with stock valuations at these lofty levels, and yet so many hedge funds underperforming the indices.
Oil took a 4 percent hit, and concern is growing that this is a sign of slackness in aggregate demand, and not a over production move by the US and some of its allies to punish Russia, or the Saudis to give the shale oil crowd a stiff gut check on their long term viability.
But all in all, today was just a pullback. Let’s see if we get any follow through anywhere in this market.
There is a surprising lack of liquidity in the market, despite the massive printing that has been done by the Fed.
If the markets get in trouble, it could develop into a blood bath. But that is a big *could*.
This post was published at Jesses Crossroads Cafe on 08 DECEMBER 2014.
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