Thursday, April 13, 2017

The Last Nail In The Coffin For Camacho-In-Chief

"They were Terminal Idiocracy..."

As I said earlier this week, this shit show is now levitated by the market's confidence that OPEC can increase the oil glut...

But first, nail by nail, the Trump trade has imploded. Big banks could not have picked a worse time to report than today. Why? because insiders are free to sell shares again, which is what they did in January with both hands right after earnings:

January 24, 2017

But, why are they selling?

Is it because loan growth is collapsing? What do they know that we don't know?

ZH: Loan Collapse Is Real

Among others, the two largest U.S. banks reported today and the selling was heavy:

JP Morgan
This is not all insider selling of course.

Wells Fargo


USDJPY global carry trade


Big Cap Tech is getting hammered on heavy volume:

Small/Micro cap stocks

The volatility short trade

Which leaves Oil (black) with junk bonds (red)
Volume is from junk bonds:

"No one saw it coming"