2019 was the great masking. 2020 will be all about the great unmasking and control. In 2019 central banks once again succeeded in masking all the underlying problems in the economy, the […]
2020 Vision
SELL
How to assess risk in a risk free world? Stocks are relentlessly bid up like taped bananas on a wall with charts taking on banana like shapes: Inverted, pointing relentlessly north. “Melt-up […]
The Day of Reckoning
Well, they’ve done it again. By “they” I of course mean the US Federal Reserve and all the other central banks combined. Synchronized global easing it is called and the once again […]
BreakOut Fake-Out?
The Fed cut rates, the ECB officially launched QE, and a parade of administration officials touted progress on the ever elusive China trade deal for the 100th time and voila: Markets breaking […]
Zombieland
Bulls taking victory laps, bears crying, new highs on Friday in some sectors and charts settling the US stock market near a historically high 145% market cap to GDP. What’s it mean? […]
State of Markets
No new highs, no new lows, lots of chop and still no decisions on anything. New highs or not, trade deal or not, hard Brexit or not, the list goes on and […]
Control
Let’s keep it simple shall we: 2019 remains a battle for control. The forces of intervention want to “extend the business cycle” as Jerome Powell likes to frame it by any means […]
Decision Time
Well that was fun. Big nasty drop and a vicious rally back up. Standard script right? After all we’ve all become accustomed to drops not lasting more than a few hours or […]
Stalemate
Where is it? The great bull market? Where is the imminent great bear market? Fact is markets are in engaged in a big game of stalemate. Bulls keep buying every dip, but […]
The Bear Case
It’s a dirty job and someone has to do it. May as well be me and I’ll make the bear case here as difficult as it is. And I say difficult, because […]
Playing with Fire
This week’s renewed move above 3,000 on $SPX prompted victory laps by bulls as the multiple expansion program inspired by central bank intervention and trade optimism once again dominated the market action. […]
Hopium
The first round in the Thunderdome goes to bulls as another hopium based rally emerged driven by relief headlines. First on the news that Hong Kong tensions appeared to defuse and then […]
