Bloomberg outage: Cause, scapegoat, or

Bloomberg outage: Cause, scapegoat, or both?

The etymology of “scapegoat” is ancient rituals that transferred the sins of a community to a goat that was let loose in the wild, taking its new “cargo” away forever. The global Bloomberg terminal outage inhibits participation, so it is a very real contributor to the pre-open plunge.

It might still be a scapegoat, to a conspiracy theorist. Highly-levered central banks must stay up late at night wondering how they”ll ever get out of the corners they”ve painted themselves into — but without leaving their own footprints on the floor. Blame it on Grexit, inflation, etc. Trading desks going dark? Better than being a victim-less crime, it”s not a crime but has plenty of victims.

So, if the blame game can”t exploit a worldwide communication breakdown and launch a new downleg, then the rally remains intact. There”s still an open to navigate — and expiration open, no less — but absorbing these overnight shocks can point sharply higher today. Otherwise, may as well unplug your Bloomberg…

Here”s the pre-market Tour recording:
https://roddavid10.mitel-nhwc.com/join/pcxxzzz