Utter Madness

HFT + QE∞ = Crazytown

100
Fri, May 8, 2020 - 10:31am

Only in the insane world of HFT machine trading and QE∞ would you ever expect a rally in the "stock market" and a selloff in gold based upon the worst monthly US job losses ever reported. But that's exactly what we saw today.

And again, this is NOT a function of fundamentals. As you know, fundamentals like P/E ratios and quarterly profits stopped mattering years ago. Over 90% of the NYSE volume is now simple HFT Machine position swapping with unlimited fiat cash creation "lifting all the boats". It's why we started using quotation marks around the term "stock market" nearly a...

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