Well, ya'll did it again to me, didn't you?
This weekend, the chorus of hoots and hollers about the explosive rally coming on the Euro was deafening, and the guffaws about "Risk On" and smirks about my EUR/USD short were omnipresent.
I mean, good God in heaven, even ZeroHedge is screaming about a huge EUR/USD rally because of the record short interest.
Maybe. Maybe not. All I know is that for the first time in a couple of months, I woke up at 4 a.m. filled with worry at what I would see on my iPad, and instead of an explosive 2% up-move in the EUR/USD, I saw this (with the arrow marking the peak of "gee, Tim has a big short on the Euro, doesn't he?")
There is no welfare queen in history that can hold a candle to a bull. They depend on government hand-outs and bailouts for their success. These are the only tools they have left. Real economic growth isn't going to happen for years. Thus, bulls rely on artifice to synthesize success.
But perhaps the world is beginning collective realize that their lies have no substance, and that bailouts aren't the basis of prosperity.
I am a lonely bear surrounded by a world of liars and thieves, thus I remain cautious. But, at least for the moment, at least the bulls have been denied their mega-Monday rally that they were clucking about so mercilessly all Sunday.
One-eighth of a trillion euros created a rally that was vaporized before the market even opened in the United States. That money will never be seen again, and it's just going to make my long-held targets on the EUR/USD happen with more ferocity.
So keep asking for your bailouts, bulls. The world is changing beneath your hooves.