Reflation looking more Dubious
The stock market churn continues, but real cash to push the market higher is not readily available. Big players are still trying to figure out how to unload longs. The reins are about to come off.
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A Paralyzed Market
Market players are in a state of paralysis, stocks are so strong and so not based on facts, but is their anything that could stop this? My view, overall availability of cash seems to be in a headwind. Our chart…Continue Reading →
Portfolio Insurance Returns, 1987 !!!
I wasn’t going to say anything today, but I for some reason turned on the CNBC Fast Money Halftime show. It seems that even they are blown away by Door Dash IPO pricing. Hasn’t opened yet. Anyway they seem to…Continue Reading →
A Quiet, Vaccine kind of day
Probably the only thing going on today is behind the scenes. In my opinion, and I am in the minority, but nevertheless, this market is not about a big coming economic expansion, but more importantly the hope of a big…Continue Reading →
Stop Leak
Back in the 50’s and 60’s your first car in high school had probably seen better days, even if you had dreams of it being the fastest car in high school. One thing that was needed many times was stop…Continue Reading →
Waiting for an Event
The background economic data that we presented yesterday should make the picture clear. This market is tied to something other than reality. Analysts always say that manipulated markets don’t react to data, they don’t have to because data is not…Continue Reading →
Pushing the Limits
This feels like the week that I have been waiting to happen for nine years. What I mean is that since the start of Bernanke’s QE2 Funny Money saga what I have wanted to see is a time where everybody,…Continue Reading →
Reality is about to Set In
The markets will come to the realization that the markets P/E multiples are not due to rapid growth but by funneled funny money. We could see stock prices cut in half while at the same time having employment rise. This…Continue Reading →
Big Money is Unloading
As we outlined the scenario a couple of days ago, Big Money is unloading because Macro Fundamentals are making a historic roll over. The Buyers here are what I would call the “think they are smart money, the various CNBC…Continue Reading →
What Have we Learned ?
Trump has taught Americans that speculation and leverage are easier than hard work. Can we unlearn this, it will be difficult and probably will require some combination of inflation and high, not just higher, interest rates. We now are going…Continue Reading →