The all-knowing hairless monkeys don't see it coming. Maximum risk positioning remains on, and the fake narratives are flowing non-stop. Conning 7+ billion was not as difficult as it looks...
Aside from DowCasino and BitCasino, the maximum pain trades are all in fake reflation: Long oil, short Treasuries, and the thermonuclear coup de grace, short volatility...
This just in:
The last time crude oil speculative positions were this long, was the top in oil earlier this year:
The second massively crowded reflation trade is short Treasuries:
"There is concern that the bond market is sending warnings about the economy, as high yield debt sells off and the Treasury yield curve flattens."
The 2+2=5 Orwellian takeaway:
"Markets are showing signs of nervousness, which analysts say is not necessarily the dire warning some fear."
"Sumpin's not right"
"I'm 100% in Amazon, which is not connected to 'Conomy. That's what my trusted advisor told me"
And of course the fission trigger that's going to blow this globalized circle jerk to kingdom come...
Looking at BitCasino again, the Maginot Line is 6600, because that was last week's close. A close above that level is a win for bulls. A close below that level is a second weekly loss. It's only Tuesday, but volume is heading for another massive record:
On the daily, it's heading for .618 fibo which is ~$7,000
While I'm here, Europe just took out the 50 day, something about Brexit and Theresa May not finding her own ass with both hands...
NYSE:
Nasdaq (100):
