"Like-minded greedy dunces blowing smoke up each others' asses until they get obliterated"
Now that everyone has had a chance to load up on Facebook, and junk oil stocks, the max pain phase will begin...
All World index:
"You know, I swear I've seen this before, but dammit can't remember when...honey, what does this look like to you?"
But first, after hours as expected, another Tech Moonshot. They renamed Google "Alphabet" and since then the stock has gone parabolic, because dunces thought it was a new company. I call this "the kiss of death"...Every stock in the past 15 years that assumed the mantle of "most valuable company" has tanked almost immediately after...Microsoft, GE, Exxon, Apple...
At its peak, Apple was worth $775 billion. To put that in perspective the amount of market cap it has lost ($240 billion) is worth more than AT&T ($211b) or Walmart ($201b) or JPMorgan ($214b):
The Wilshire count looks complete with today's overthrow...
The rally is 9 days old today, so this shows price / volume 9 dma (with today's closing volume). If you can see this rally, then you don't need glasses...
Churning and burning...
The equal weight cap weight ratio.
When this peaks and rolls over, stocks fall hard in unison...
Oil rolled over hard today...and stocks forgot that they are 96% correlated to oil...
Oil volatility rose today signalling that someone knows they're fucked...
The chart of the day of course is this one:
Kimberly Clark / S&P:
The chart of all time will be this one...
All World index
