Wednesday, February 8, 2017

In Clowns We Trust

Unfortunately, the Idiocracy doesn't believe in facts, truth, or reality...They prefer to have trusted serial psychopaths whisper sweet nothings up their ass. This market is supported solely by non-stop bullshit...

While Canadians don't trust Trump overall, according to this survey released yesterday, they overwhelmingly approve of his economic policies, when compared to Trudeau's. Net approval = approve - disapprove.

"We like higher interest rates, trade wars, oil gluts, financial crises, and a consumption tax on the middle class to pay for a corporate tax cut. How do we get that?"

His name is Mr. Wonderful, Kevin O'Leary, another "reality" TV charlatan, what else?



Aside from a persistent short-covering bid, there is literally nothing else holding up this market. Gamblers are historically long oil, small caps/banks, the U.S. dollar, and high beta stocks. While being historically short Treasuries, and volatility. So far, all of these trades are already unwinding, except the Nasdaq and volatility...

Although volatility has so far failed to confirm this latest Nasdaq high...

Inverse VIX with Nasdaq:


My bad, the minimum volatility implosion fund is also bid. Ready for vertical mode...




Bueller?



Volume Oscillator

Bueller?




As long as the Nasdaq trendline doesn't break, no one will shit their pants...




MEGA BULL TRAP
In other words, if this is the "strongest index", then mega collapse can't be too far away...


EIA numbers confirmed the second largest crude inventory build in U.S. history, so this current short-covering circle jerk won't last long...




High Beta ready to explode lower


Treasury shorts are getting duly monkey hammered. You know, like last year 

Five year Treasury yield with Goldman Sachs:




This is going to hurt




USDJPY clings to latest support, with banks:


This is how many Dow stocks confirmed yesterday's record high:




No, they don't see it coming...looking the wrong way down the tracks for reflation when deflation is coming from the other direction.

Carried along at 1,000 mph by truth, facts, and reality. Ready to steam-roll denialistic bullshit lovers into fucking oblivion...



Globalization is a zero sum con game