The completely pointless Xi/Trump summit is over – – and it cost us, what, $50 million, $100 million, does it even matter anymore?? – – and, as I predicted, it was a double-patty nothing-burger with cheese. Goldman Sachs had been screeching to their clients to buy Chinese stocks in anticipation of the mega-rally, and you can see how well THAT advice worked out by way of FXI.
One of my core positions, IWM (small caps) is grinding its way nicely lower.
Against all good sense, I also shorted insane high-fliers yesterday like WDC, AMD, MU, and STX yesterday like a sumbitch, and SMH seems to suggest it’s going to a good day.
Crucially, my true core position, bonds, is eroding just as swiftly as the American empire.
If that weren’t enough, the past twelve hours provided us the two Sell signals of a generation.
Listen, people, if you want to understand the nature of this market, consider with me the Mayor of Arcadia, who was just arrested for being a Chinese spy. Here is her official photo:
And this is what she really looks like (AFTER lots of hair and makeup, mind you):
It’s illusion versus reality. I trade in reality.
If you prefer to live in a world like the Mayor tried to project, who photographically has more filters than a Starbucks, you’re in the wrong place.
