Just remember, this was all part of the "strategy".
August, 2019:
"Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or..."
Too late.
Deja vu of Q4 last year, the NYSE Composite has STILL not confirmed this fake reflation rally. Two more H.O.s week, indicating a rising number of new 52 week lows.
Since the Fed bailout, the fake reflation trade has been on in "decade size" with semiconductors leading the way:
Safe havens have gotten pole axed
It was all going great until the rally ran out of useful morons, and was left running on MAGA glue fumes and NON-STOP Twitter bullshit. The level of market manipulation these past several weeks has been ludicrous even by Trump standards.
Here we see that NOTHING has changed in the past year, other than to escalate the trade war, amid non-stop bullshit:
Alibabylon just priced its dual listing at today's close and will begin trading in Hong Kong next Tuesday (11/26). Which means that the U.S. and Hong Kong markets are now tied together by the largest IPO of the past decade. Just what you want with Hong Kong in the first recession in a decade amid non-stop rioting.
After the close on Tuesday, imploding the S&P futures:
Now that the glue fumes are wearing off, we learn that fake reflation was a hoax.
Retail earnings are coming out, and they are not looking good. So far, Home Depot and Kohl's have missed the mark. Urban Outfitters is tanking after hours:
Apropos of this new "all time high", drug stocks are going BALLISTIC this week.
I don't mean pot, I mean the kind of drugs that kill you:
Meet the new top performing IPO of 2019, up 1,000% this week:
Getting back to Tech, Apple and Microsoft now have a combined market cap equal to all of Canada's equity market:
"The market today reminds me of the late 1990s," Hackett said, referring to the dot-com bubble, when even unprofitable internet companies were soaring. And stronger companies had price-to-earnings ratios that were likewise astronomical. In March 2000, Cisco (CSCO) had a P/E of 150 and Qualcomm's (QCOM) was just under 170."
That didn't end well."
Nov. 11th, 2019
Nov. 14th, 2019
"Cisco shares touched an intraday low of $44.60 Thursday morning, 8% lower than Wednesday’s closing price. That’s the biggest one-day drop in the stock since August, when Cisco first started talking about a potential slowdown in tech spending."
"Evercore ISI analyst Amit Daryanani, with an outperform rating and a $55 price target, took some consolation that Cisco’s problems appear to be driven by a slowdown that goes beyond Cisco."
"Don't worry, it's just a mid-cycle adjustment"
