Stocks went lower in a big way today and failed to bounce into the close.
The refusal of the SP 500 to change the rules and allow the new SpaceX IPO to join the SP 500 without any of the 'seasoning' measures deflated the balloon of some of the insider wiseguys.
Its inclusion would have compelled the SP 500 index funds to buy it, while it had a very limited float, driving up the price.
Nice scam. It failed.
It may still carry through on the NDX/QQQ, but they may look very bad in the process by comparison.
Gold and silver were hammered.
It must have been another Non-Farm Payrolls Report day.
I doubt a correction this mild was driving liquidation selling. Maybe later.
I have marked the 20 percent decline levels on my stock index charts.
Need little, want less, love more.
Because the only real tragedy is not to have been a saint.
Have a pleasant weekend.
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