Key Reversal Of Fortune

It's been quite a week already and only about halfway through...

Amazon/Cyber Monday blowoff. Check.

New Fed head confirmation. Check.

North Korean missile launch. WWIII banter. Check.

Janet Yellen last chance to blow smoke up our asses. Check.

Momentum stock reversal. Check.

Volatility reversal. Check.

Bitcoin blowoff top. Check.

Which leaves OPEC circle jerk and tax cut, both Thursday...

Bitcoin smash crashed below $9,000 and is now correcting higher. The largest U.S. exchange, Coinbase, was offline for several hours today, as was the largest U.S. retail broker Fidelity.

Two strong harbingers as to what is about to come. There is not enough computer power in the world to handle Ponzi meltdown...

Speaking of key reversal of fortune. Remember two days ago...

Pisani is covering his tracks today by telling us how bullish the rotation (aka. obliteration) from Tech to Retail is...

He will be surprised to learn that record store closings is not "bullish". Nor is short-covering at the very end of the cycle:

And in the pantheon of bad late cycle calls, none was worse than Goldman's casino upgrade to level '11' bulltard last week. Subsequently they've been backtracking somewhat...

Last week:

This week:

What changed in the past week?

Not everyone got the wink/nod explaining that Kostin's asinine 2018 prediction is was the last chance to get out...

Bob Pisani needs to look at charts more often...