Outdoor temperatures here are over 70F. It's humid. I hear hoards of crickets. Signs of summer ...
The ennui of news flow is marked. Babblevision talks about the next "trade" endlessly. It sure seems like the summer doldrums.
Ms. Market slapped her latest beau after the post Fed rally and sat down to skip the dance. What does this mean ? My guess is that the bears used the rally to put on more shorts and beefer traders took profits. The signs: the biggest losers were the strong stocks which had broken up into new rally highs.
This pullback could be the "Sell Rosh Hashanah, Buy Yom Kippur" trade, delayed a few days. That's my "guess". The traders couldn't find buyers higher after the Fed, so they sold. Real buyers are continuously nibbling at lower prices like a plethora of hungry squirrels eating fallen acorns.
The Bloviator continues to bloviate. Will he ever "do" anything ? It's just remarkable that having huge majorities in both houses of Congress somehow seems to have drained the energy from his party. Perhaps they are busy plotting their next earmark raid for payoffs & bribes ?
I am doing nothing. Estoy haciendo nada. Je ne fais rien. Robię nic.
[more languages to come ... Italian, German, Latin]
Word of the Day
"Louche" - adjective [$10]; from French, rhymes with "douche"
Louche means 1. disreputable, shifty; 2. [from OED] oblique, not straightforward, dubious.
Sentence: Rankings of the most louche professions: used car salesman, real estate developer, US Congressman.
Le Mots du Jour
"Loucher" - verb, regular -er
Loucher means 1. to squint, to have a squint; 2. (~ sur + object) to eye, to ogle.
La Phrase: Un homme louchera souvent sur une belle femme.
Sentence: A man will often eye a beautiful woman.
"Louche" - adjective
Louche means shifty, dubious, shady, fishy
La Phrase: Il y a du louche dans cette affaire.
Sentence: This business is a bit fishy. [idiomatic translation from dictionary]
[Thanks, Woody, for this $10 bi-lingual word]