Well, well, well. How swiftly things do change.
There is a litany of reasons that this laughably overvalued equity market is finally starting (I say again, starting) to meet its comeuppance. Between a tragically corrupt and inept administration, a war spiraling out of control, and a nation helplessly in debt, it’s also of aid that the latest employment numbers are a complete train wreck.
All of which has led to a market that is totally falling out of bed, with me celebrating and cheering on every downtick, loaded to the teeth with puts and shorts as I am.
Well, not everything is falling. One market is absolutely exploding higher, and that is crude oil, which Trump’s bone-saw buddy has plenty of, and whose price ascent will choke off an already at-risk economy.
Since only one out of a million humans is a true bear, virtually all humanity is freaking out about all this mayhem, with one notable exception, which is the guy shown below. He probably never imagined the floodlights on his disgusting activities would be pivoted away so quickly. He must feel blessed directly by God. Even, how shall one say it……….chosen.
As delighted as I am to see this bloodbath, I must temper myself from getting too aggressive. When things are going well, I have a tendency to start to enter trades which are not sensible, and it always burns me. I shall try my best to temper my passions when things are, yes, selling off, but are doing so in a way which recently has led to short-term bounces.
The turning point we have reached it an utter failure in uptrend and, with the /ES as a guide, the real prospect for a gargantuan and lasting reversal top.
I took a poll of the members of my conscience to see how they were feeling about the world falling to pieces like this. I’ve got to confess, it was unanimous.
Let’s do this.
