Monday, March 27, 2017

Picking Up Nickels In Front Of The Steamroller

Wall Street is still fantasizing about a Trump tax cut while everything else implodes in real-time: Imploding banks, dollar wipeout, a collapse in Trump's approval rating, a failed OPEC agreement, and overnight RISK OFF are the new reasons to buy the collapse...

The six month OPEC production cut has completely backfired by sponsoring higher prices, higher non-OPEC production levels, and increased inventories. So now they're contemplating extending it to see if that improves the situation. Stoned gamblers are on the edge of their seats anticipating higher prices...

ZH: Goldman Warns OPEC Production Cut Extension Will Backfire 

What would make them think that?

Speaking of spectacular failure, as of last week's Obamacare-rollback fiasco, Trump's approval ratings have already plummeted below the lowest levels reached during the Obama and Clinton Presidencies. So now that the Trump trade (dollar, Oil, banks) is as dead as a doornail, gamblers have moved on to Snapchat - The most overvalued stock, having the most "Sell" ratings, is now leading the market. 

Because buying IPOs at the end of the cycle while Financials are imploding has always been a great idea:

And my bad, gamblers can't be trapped, because they're still buying the collapse with both hands...

The U.S. bought the rest of the world's overnight gap n'crap enabling Skynet to precisely fill the overhead gap, what else?

It's called picking up nickels in front of a steamroller. And I forgot, they're seasoned veterans at it...

USDJPY with S&P downside gaps aka. "Overnight Risk"

ZH: Longest Dow Losing Streak Since 1978

What that means in Idiocratic terms is BTFD: