Here's What You Missed On CNBmute

The end-of-the-month-trading voices are loud but not clear on CNBmute this morning.  The ones who say that we are in for a slump but that longer term the markets will set new highs.  The ones who declare that the bond market, the market few investors trade in or understand, is dictating market direction.  The ones who assert that the Federal Reserve is secretly poised to destroy the equity markets, and the economy, by raising interest rates.

All these voices are smarter than us because they have more money.  Usually in the billions.  So they must know.  They talk about "everybody" being in the Hamptoms, that "no one" is at work, that "everybody" has taken off early for the holiday weekend.  That "no one" wants to hold stocks over the holiday and that's why there is so much selling, but don't explain what the buyers for these sellers are thinking.

What do we think?  Profits.