Unfortunately, a few of us have seen this Central Bank contrived Jedi Mind Trick before. Last time of course, gamblers didn't assume that the ultra-low volume/volatility vacation from reality would last forever, because it didn't. It ended with the Emerging Markets rally.
This time they assume it will last forever..
Unfortunately, the EM rally rolled over this week. An advent that was fully ignored by gamblers...
Almost one year since the election and today's blow-off top is compliments of Trump's imaginary tax cut, what else?
The fact that the tax cut will do absolutely nothing for the 'Conomy is of no concern to the bagholding dumb money:
"Where it came out, according to analysts at the Tax Policy Center, was a tax plan that in 2027 would give 80 percent of the benefits to the wealthiest 1 percent of Americans"
This melt-up is only about one thing: Wall Street
And of course momentum
The smart money is selling into the blow-off top. Active Managers have the lowest exposure since the election:
Gamblers are ignoring the 'Conomy
Unfortunately, at the top there's only one person left to con
Yourself
Careful what you wish for...
30 years ago this week:
