It’s a good morning so far. The empty-headed bulls fell all over themselves buying this “cheap” market (actually the most overvalued in history) to crank the /ES up to PRECISELY, I say again, PRECISELY, the Fibonacci. That’s when I gobbled up IWM puts like a pig.
My dearest friend XLU also found strength from our helium-headed friends. This is a symmetric triangle for the ages.
Most astonishing of all, Apple has transformed from the Greatest Company Ever into a steaming pile of donkey shit. And why is that? BECAUSE WE HAVE ENOUGH IPHONES. This company has peaked, I’m confident, for the rest of time. Apple now enters its inevitable decline.
Of course, the reason behind Apple’s demise has nothing to do with fundamentals. It has to do with a wizard with unmatched powers. Behold his mighty hand.
