Betting The Farm On Denial Trump

Even Wall Street knows this is all over. Now only the most hardcore denialists are clinging to this gong show - the ones who will believe ANYTHING, EXCEPT the truth. Imagine literally betting the farm on the biggest fucking tool in human history. There is no coming back from that. 

Meanwhile, what happens when we reach third wave down in every global risk asset class at the same time? We're about to find out. Every day is the same pattern - the market opens at the highs of the day and closes at the lows of the day. Typical bear market action. And also why the smart money flow indicator is showing record outflow. The dumb money keeps buying the dip and it's no longer working. These people have been lied to so much, they are incapable of believing that the party is over...

"Market bulls continue to see strong U.S. GDP growth, a tight labor market and surging corporate profits.

The factors lining up against the market are formidable: slowing growth, peaking profits and the global trade war."

Add in rising interest rates, imploding Emerging markets, recession stocks leading the rally, Tech wreck, and imploding commodities. 

The dumb money bubble is the last bubble on the planet. This slope of fake hope which keeps the market stair-stepping towards crash.

What sets this decline apart from all of the other "corrections" of the past several years, is the abject lack of fear. Even smaller corrections than the current sell-off elicited more concern than this one. Every dip is a buying opportunity:

Momentum stocks have reached a critical juncture

Small cap growth, same story:

Perma-bull Cramer loves to say there is always a bull market somewhere. Not anymore:

That said, some people still consider money markets to be an asset class

Gamble at your own risk.