Limited Upside

Asian stocks are rallying this evening, in a delayed reaction to China’s rate cuts. Listening to Bloomberg Asia tonight you’d think China cut rates again. It’s just that Bloomberg Asia are living in the past. They’re replaying the events of Friday–because their stupid markets were closed when China decided to man up and join the civilization of easy men.

My prediction for a 10% move in October has all but been fulfilled. Now that its happened, people are shimmying their way to the casino table, hoping for moar gains, like fucking morons. The big gains have been had. Prepare to grind out the rest of the year, boring yourselves into stupidity.

Am I bearish?

No

Am I bullish?

Always

But do I think the market is setting up to run hard now, following an epic run?

Who the fuck do you think I am?

Asian stocks are off to a solid start this morning after the PBOC (People’s Bank of China) cut interest rates and reserve requirements, much to the chagrin of Zerohedge.

I know you’re all in the streets broke from biotech trades gone awry. I just wanted to thank you, from the bottom of my black heart, for taking food out from your children’s mouths, to join us at the Yale Club this year. It was a great time filled with some truly memorable moments.

For those of you who couldn’t make it out, for whatever reason: burn in hell. I have no pity for you.

And, finally, I’d like to offer a tip of the top hat to the distinguished gents who had the means to join us in celebration in the library room, for food, entertainment and cocktails. I hope you found the venue to be suitable to your savage standards.

In case you’re wondering why Josh Brown couldn’t make it out this evening: he had a prior engagement to partake in biblical-styled gluttony, involving a friend of his roasting an entire pig. Josh told me he couldn’t miss this meal, for he intended to eat the swine’s entrails, something that has been on his bucket list for sometime now.

Thanks again.

Fly