"They stab it with their steely knives, but they just can't kill the beast..."
Unfortunately, you can't warn stoned zombies. I've tried. There is a symbiotic relationship between the salesmen purveyors of bullshit, and the sheeple consumers of bullshit. They need each other, the way a fentanyl addict needs his dealer.
TechNihilation is well underway. It's all up to recession stocks now. The sheeple remain oblivious. The younger generation has never learned the word "sell". And the older generation can't remember what they had for lunch yesterday. Tech gamblers are caught in the perfect storm of imploding iphone sales, the Facebook data privacy fiasco, and now this:
Donny is now targeting the most overowned and overbought mega cap pile of junk on the planet:
As I write, the casino is parked on the 200 day moving average. Skynet using every tool at its disposal to keep from breaking last support. Each bounce weaker than the last, attended by ever-larger doses of unadulterated bullshit to keep the sheeple from bolting...
TechNihilation is a fait accompli. The technical damage is done...
But here is where it gets interesting.
The leading sector right now is Utilities which of course is a recession play. All very bullish, I know. Unfortunately, compliments of the Fed, Utilities are the overall weakest sector - having been negative for the entire year-to-date:
Which is why the most important chart is not of Utilities, it's of stocks versus bonds, because the massively over-crowded Gundlach/Gross fake reflation trade is force unwinding:
All of which is why, this is going to lead to an inevitable mega crash. Because once the Utilities 3-wave correction is over, this turns into a no bid market...
In the meantime, "BTFD" remains the order of the day...
