The National Association of Active Investment Managers takes a weekly survey of its members, asking them what their overall equity exposure was at market close on a specific day of the week. The possible answers range from -200% (leveraged short) to +200% (leveraged long). !NAAIM represents the average exposure of NAAIM members.
Over 7 billion conned. Even better this time...
I think we all see where I'm going with this...
The state of the Union, summarized:
Paul Ryan introducing the proposed tax cut:
"Half the country is living paycheck to paycheck. And a lot more people are one paycheck away from living paycheck to paycheck"
Trump introducing Jerome Powell as Fed chairman nominee:
"In just a short time, we have made great strides. Unemployment is at the lowest level in 16 years...I want to thank the current Chair, Janet Yellen, you're a wonderful woman who's done a terrific job [By the way, you're fired]"
This Tuesday is exactly one year since the election. The imaginary Trump tax plan in conjunction with real Fed rate hikes have succeeded in crushing the yield curve down to 2007 recession levels. It's the denialist version of reflation. Today RepubliCons finally released the details to their proposed tax cut. The Kraken has been unleashed...
Homebuilders Crushed By Tax Plan
Today the new Fed head Jerome Powell was officially announced. Yesterday, outgoing Fed head Yellen exuded uber confidence that the U.S. economy is improving. All facts and data aside.
She's now going to take her crack pipe into retirement...
ZH: Yield Curve Flattest Since 2007
Healthcare stocks of course were already imploded by Trump earlier in the year.
Nothing to see here, move along...
Break of trendline. Check.
As long as the iPhoney 10, which is released tomorrow, is "two" better than the 8, this will all be fine. Otherwise, this is the biggest bull trap in human history...
"The iPhone X is just a shiny jar of candy, designed to be irresistible for fans that are hungry for the latest status symbol"
Social Mood blow-off top. Check.