Submitted by QTR's Fringe Finance
For the better part of the last 18 months, while speculating about what would set the market off lower (aside from just slamming into pesky ole’ 5% interest rates after two decades of the largest free money bubble in history), one of the ideas I’ve entertained has been a “black swan” event that nobody saw coming.
In many instances, I’ve speculated that this could be the unraveling of a company that everyone assumes to be a staple of markets. For example, here is what I said just weeks ago on Palisades Gold Radio (video queued to right spot):
In that video, I mention “black swan unknowns” and ask whether or not there will be a major corporate fraud that goes down. And while I’m not sure the market has found such a “black swan”, there is certainty a series of events that have taken place over the last 48 hours that market participants should be keeping a close eye on.
As everybody already knows, there is no closer watched stock in the market than Nvidia. The market’s obsession with the company, on display recently leading up to its most recent earnings report, is at a fever pitch. Analysts and financial media have taken to the airwaves non-stop to praise the name, rushing to raise price targets and name the company a “must own” after it smashed earnings expectations last quarter.
The entire industry has made peace with the fact that Nvidia is the market now. Its success or failure will dictate whether the market’s rally will fade or continue. Nvidia is now the market’s bellwether.
Meanwhile, I have spent the last 12 months yelling into the wrong end of a megaphone about how the market is literally teetering on the brink, for a year now, just waiting for a shove off a cliff.
And that shove may have come over the last 72 hours, as critical questions have started to surface about a key purchaser of Nvidia products. Specifically, some analysts are starting to push around questions about whether or not...(READ THIS FULL ARTICLE HERE).