The Never-ending Story

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You can pretty much count on it. If we get a decent down day, then the administration will frantically back-pedal any tough-on-trade talk and send equities flying higher again. This back-and-forth has been in place for weeks.

I’m usually fairly soft-spoken in my posts, but in January 2018 I did a no-question-about-it piece titled If You Buy Equities Here, You Are Insane (to which Dutch replied with the first comment “Yes they are.”) The chart I used to illustrate this was the industrials fund XLI:

Looking closer, the “insane” declaration was the high point on the left side of the top. Since then, we have matched that “insane” point two more times. The motivation to keep this crap artificially cranked to the ceiling has never been higher, nor have the stakes.

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