Any questions why tech lost its bid today?
The fact that cash is now yielding more than the S&P 500 for the first time in a decade, should have been their sign to exit the Ponzi trade:
But first, when Donny said last week that he was going to purge his cabinet in a controlled and reasonable manner - he meant one firing every three days. Expedited on social media:
"Congratulations, you're fired. On Twitter. Don't bother coming back to the office"
Back to the casino...
In looking at recent tech outperformance, I compared S&P volatility to Nasdaq volatility and found this pattern. Deja vu of the 2007 top, the S&P blew up first, and the Nasdaq outperformed, for a while longer, until it imploded as well:
Tech is rolling over as I write:
Six years without any real selling, means a lot of pent up risk.
Donny just pole axed semiconductors by killing the Broadcom/Qualcomm takeover. Bad market timing one might say...
Momentum gamblers are about to get stopped out. Again...
Oil is ready to take out the trendline
Homebuilders deja vu of 2015:
One thing gamblers should never want to see is Johnson & Johnson outperforming in a 3 wave correction...
