Saturday, April 5, 2014
Michael Lewis just popped the stock market bubble
Financial Author Michael Lewis
Michael Lewis just wrote a book called "Flash Boys: A Wall Street Revolt", which exposed high-frequency trading (HFT). CBS Sixty Minutes did an interview with him that was aired on March 30, 2014.
The current bull market was already overdue for a correction. But I think this is the event that caused it to pop. The Dow hit an all time-high of 16,576.66 on Dec. 31, 2013. It came very close to this on April 2, 2014, when it hit 16,573.00. On Friday April 4, it dropped 160 to 16,412.71. So we see that the market tried as hard as it could, but it just couldn't make a new high. Which means the high on Dec. 31 will stand for a long-time. Which means a correction or crash has just started.
Posted by Nathan Vanderhoofven at 10:22:00 AM