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If Everything's So Awesome, Why Is This Happening?
The Dow and S&P have shrugged off any belief that yet another Japanese recession will impact the invincible American economy... but Small Caps, Nasdaq, and Trannies are a little more concerned. However, if everything is so awesome in the US, then why are credit and equity market professionals buying protection hand over fist?
Equity managers buying protection as the S&P limps higher...
and credit managers aggressively buying protection...
notably so today...
While all but the S&P and Dow get the joke today...
Of course - what really matters is USDJPY...
Charts: Bloomberg
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"Of course - what really matters is USDJPY..."
Which..... is not shown.
Doesn't matter. We all better buy some more stawks before there aren't any.
"We all better buy some more stawks before there aren't any..."
Galbraith's account of 1929 had folks saying the same thing.
Not much of what I say is by accident.
Much of my accidents is by what I say —
115.4915 - 117.0130 Tick tock, dickheads
Oh so you work for the St Louis Fed too...
Pay no attention to the man behind the curtain. Japan is starting a currency war, the EU is circling the toilet and the USA is whistling past the graveyard. The people are going to be upset when their heads are forcibly removed from their butts and they have to see the real world falling apart.
Protection still equates to derivatives right?
Puts and Calls. Yeah. The most basic kind of "derivative", if you want to look at it that way.
Or rubbers. Just be careful of Cuban rubbers. They reuse them.
NO NO NO, It is way different this time, RELALLY, and the check is in the mail....
The VIX is at 14. Holy shit, the world is going to end.
Take a breath and adjust your VIX chart out 3 months.
you're welcome.
Just buy some deflated precious metals in a rigged market game manipulated downward and you'll have "insurance". That's the info I am parroting from what I have seen on these chicken-little blogs for the last decade or so.
Then when you try to barter with said metals, no one knows what it is worth, and they don't care and aren't interested in it.
or just buy the vix?
pussy. buy the FAZ...
booya!
Everything is not awesome. Printing money is easy...printing resources and productivity appears to be somewhat of a challenge though. Go figure..
Not if you are Blizzard Entertainment. 1s and 0s become "resources" and "productivity" and all of the stupid millenials waste thousands of hours of their lives accumulating those virtual goods and services.
At the end of the day I don't blame them though. School is worthless. The jobs are shit. Housing costs are out of this world. So they just tune out. Pretend they are some wizard warlock hybrid thing and trade in virtual gold and virtual weapons... while sitting in a physical chair, in front of a physical LED monitor at mom's physical house.
We are closing in on a short term top. Reveral will almost always happen at sentiment extremes.
Here's Woody Dorsey latest newsletter-but a new sentiment report is due out tomorrow.
http://www.sentimenttiming.com/111714-free-update/
some of his previous calls-amazing to say the least:
http://www.sentimenttiming.com/free/
'Short Term' top. Implies going still higher sometime. Please clarify time.
Please, how often have we seen this spread before. Just say "thank you" and go about your business.
Zzzzzz...may the farce be with you.
Jamie Dimon, adopting his best Marlon Brando Godfather-era voice: "So, Mr. Big Shot Pension Fund, I hear you don't wanna pay for protection. I'm VERY disappointed. Don't you appreciate how I've looked after you all these years? Come to think of it . . . been so long, my memory's fading. Hey! -- put down the cannoli, and tell me again -- exactly who are you, Mr. Big Shot?"
Was checking January put options earlier. Dirt cheap. Almost scary cheap, and lots of volume. It's what assholes do with found money. Speculate and buy protection, so, who can blame them. Abe and Old Yeller have your backs, every fucking time.
Last time I made an options trade (and I only buy puts) was during the elections of November 2012 on DIA. A winner, but I was sweating some bullets and upside down until Obozo was actually declared president for life... er, winner of four mo' years. Nice little meltdown ensued, though it was truly short-lived. Haven't had the courage (or stupidity) to short this market since. Saved myself some serious dough, no doubt.
This time looks good, looking out through January or February at the earliest, but, I feel like the guy in the Dirty Harry film: "do you feel lucky, punk? Well, do you?"
We all know how that turned out, which is why I'm hesitant. Used to believe that everybody couldn't be right all at the same time, but, over the past six years, I've seen it time and again. Fucking Wall Street just keeps getting easier and easier. Must be nice for them.
I'll stick to farming and silver in the meantime.
How many pounds of fresh tomatoes does it take to barter for a recently-killed chicken? That's more my speed.
This is what it looks like when central banks buy stawks and stops lending!
you live or die by divergence over the last 48 hours?
HYG is registering a Death Cross, for the first time since 2011, just before the S&P500 went on to lose 19%.
Note to self---stay out of US equities; buy even more T-Notes.
good call. gilts are cheap
why why ... cause Stocks Have Reached a Permanently High Plateau
Leave the VIX, the OEX, and the gold market be....Short the dogshit that the Fed (NY Banks) hate. You know, anything un-Amerikan like BITA, China Mobile, and that company that won't let the NSA snoop on you, you know, that Canadian POS - Blackberry! If you short anything they can't use as an interventionalist weapon, you stand a chance.