We might as well start with this:
Well, good heavens, Tim, what is this chart?
Is it the rate of Janet Yellen’s cellular generation as her withering body pushes into its second century?
Is it a very-accurate representation of Tom Lee’s tumescence as he sashays into the men’s locker room?
Is it the likelihood that equity bulls are simultaneously the most empty-headed yet arrogant pigs that ever roamed the earth?
Yes, yes, these are all good guesses, and largely accurate as well, but the chart you are looking at is of the USD/JPY after the CPI report tumbled out, which came in on the hot side.
Now, you do not need an IQ as staggering as mine – – which is said in some circles to be as high as 103 or 104 – – to realize that the inflation numbers churned out by D.C. are absolute horseshit that a five-year-old would recognize as politically motivated nonsense. I did not wind up paying $50 per person for every meal out at an everyday restaurant, or a utility bill sometime approaching $2,000, with a 3.1% inflation rate. Absolutely, total crap. Inflation is 30% to 40% per year, and more in some cases, and these numbers are risible travesty.
Still, higher is higher, and the frail, spoiled, molly-coddled bulls are, at long last, getting hit across the skull with a crowbar. If this were to repeat itself, let’s say, for the next 500 days in a row without fail, I would consider it justice. As it is now, I’ll be satisfied if we can end this day with red on the screen, considering the level of naked fraud that constitutes this so-called market.
In any case, I welcome the plunge in the /ES, irrespective of its tenacity.
Individual stocks, of course, are getting hit as well, including Tesla, which I’ve been pounding the table lately regarding (oh, God, what a grammatical mess, but it’s early, folks) its vulnerable state.
I am loaded to the teeth with puts, but that isn’t a superb a condition as you might think, considering the dreadful diminishment suffered over the past, good God in heaven, 20 months.
My puny portfolio, however, should swell and expand in both length and girth, not unlike the aforementioned Mr. Lee in the locker room, and that is surely an image we can all celebrate.
