Intervention

The Fed has gone into full intervention mode. Not only into full intervention mode, but accelerated intervention mode. Not just a little "mid cycle adjustment" but full bore daily interventions to the tune of dozens of billions of dollars every single day. What's the crisis? After all we live in … Continue reading →

Whatever It Takes

The proverbial kitchen sink is getting bigger. $99.9B in artificial liquidity the Fed injected into the system yesterday. Whatever it takes. This is what it takes. Maybe nobody is concerned by all this, but at least I'm not trying to be blind to it. Fact is the Fed is forced to intervene ever more. … Continue reading →

Decline

You know they can jawbone these markets all they want, doesn't change the fundamental picture on the ground and that picture is sending a very clear message: Decline. Earnings estimates keep coming down. Hard. Not only for this quarter and next but for 2020 as well and that means valuations are … Continue reading →

Gold Bull Part II

I've received a lot of question on gold ($GLD) recently, hence time for an update on Gold. Remember big patterns take time to build and it takes patience to see these patterns come to fruition, although sometimes one does get instant gratification ;-) Case in point: On May 21 in Gold going Bull we … Continue reading →

Broad Strokes

Ok, back in the saddle this week. Opex week was boring as heck last week which is what you get when they crush the $VIX, and low volatility remains part of the current landscape. 2019 has been, for me anyways, an experiment in efficacy of central banks. Will they retain control of the market … Continue reading →