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I want to emphasize, once again, how madly in love I am with my Utilities short. I am long 90 in-the-money put contracts on XLU expiring January 2019, so there’s gobs of times left. The potential on the drop Utilities could have is absolutely tantalizing.

slopechart UTIL

Looking closer, you can see how the strength of the last two weeks finally started reversing Friday. A firm break of that trendline is the next step.

slopechart UTIL

Oh, and unrelated to any of this, I offer Exhibit A about how repulsive the world has become after nine solid years of ceaseless money-printing.


Oh, and, umm, you might want to timestamp this one: