Friday, May 6, 2016

Ignorance Is Obliteration

Apparently sheeple think that thing on their shoulders is a fucking ornament. So they've outsourced all of their thinking to proven morons. I'm sure that will be a huge consolation when this all implodes with extreme dislocation out of "nowhere"...

That nobody knows everything, is what I've been saying about today's over-confident buffoons. And that life is significantly a function of luck, and therefore should be greeted with constant gratitude, is the key to happiness.

However, to say that "Nobody knows anything" is just begging to be monkey hammered as hard as possible...because here is what we know...

Despite the relentless back and forth, risk markets had their worst week in several months. The S&P finished at the exact same level that preceded the last two major sell-offs. 

2040 has been defended 18 times since August

April's jobs report indicated the worst growth in 7 months

JPY/carry hit a new low this week.

The two largest sectors, Financials and Tech underperformed all week.

Utilities finished their first leg down and up

Consumer staples likely finished 1 down 2 up as well

Berkshire Hathaway missed profit expectations and rolled over on the week

Volatility was bid all week

FANG stocks corrected their recent sell-off, meaning the first wave down and up are likely complete

China sold off hard overnight

Transports broke down through the 200 day

Apple closed the week at 2012 levels

Biotech got monkey hammered all week

Global Dow closed at one month lows

Oil inventories reached a new all time high. Oil went sideways due to the Canadian tar sands fire

Europe resumed its downtrend

Cash balances are the lowest in two decades

Junk bonds just had their largest outflows ever. Following the largest inflows ever

Here come the charts to prove that no one knows nothing...

Global Dow



Consumer staples 

Euro Stoxx 600 (600 largest companies in Europe):

Junk bonds