Friday, August 19, 2016

EXTREME CONFORMITY

Unfortunately, shunning bubbles requires becoming a social outcast. Because nothing induces conformity like over-committed capital...

One year later and oil is back at last August levels, while inventories are near record highs. Inventories bottom in August and December...



Complacency is extreme
Low volatility implosion fund with VIX:


NYSE Highs - Lows


Volume


Biotech



Natural gas / oil ratio:



What could go wrong?
USDJPY: