The calamitous triangle break that was pending yesterday morning, happened. We got the usual result. Badda bing, badda boom.
The eurodollar curve’s latest twist exposes what’s behind the long end. To recap: big down day in stocks which, for the first time in a while, wasn’t accompanied by massive buying in longer maturity UST’s. Instead, these were sold, too. Rumors of parity funds liquidating were all over the place, which is consistent with this […]
Can we please dispense with all notions that monetary policy works?
We got the expected rally, but God, it’s pitiful so far. This thing is on the verge of an explosive triangle pattern break.
Basic recession economics says that when you end up with too much of some commodity, too much inventory that you can’t otherwise sell, you have to cut the price in order to move it. Discounting is a feature of those times. What about a monetary panic? This might sound weird, but same thing. In other […]
I sense there is a tendency right now to say that this correction is just similar to the Q4 2018 correction.
This is the upside of hyper-litigiousness: prevention is prioritized as the most effective means of limiting future liability.Never mind prevention or vaccines; the big question is “who can we sue after this blows over to rake in millions of dollars?”&…
As I sit here Monday evening with the Dow having closed down 2000 points and the 10-year Treasury yield around 0.5%, the title of this update seems utterly ridiculous.
Yesterday I led off with the thought that the fucutures had a bead on 2700. The intraday low on the futures was 2695. I’ll try not to break my arm patting myself on the back. But gee, this happens so infrequently, a guy should be allowed to gloat once in a while.
The rally that I half hearted expected seems to be under way. It better stick for a while, or you can bet your bippy that the gates of hell will open and we will all be consumed in the fires of eternal damnation.
And you know that I never exaggerate.
Gold again challenged trend resistance and pulled back. This is a multiple choice test. Here are the answers. Only one of them is correct. If…