Britain’s leading newspapers are now calling it for BREXIT. More importantly, it wasn’t even close.
Before I discuss the short term ramifications for stocks, just know this is great news for the UK, Europe and global trade. We both know the euro experiment is a wanton failure. The EU is moving towards becoming a fascist regime, deleterious to democracy in Europe. So, in the long term, for the sake of humanity, this is fantastic news. There is a refreshing breeze of nationalism and populism sweeping the UK and America. Let’s hope there are some strong leaders to lead the people through the transition.
What’s taking place tonight is historical. The pound is off by more than 9% to levels not seen since 1984. The NIKKEI is off by 8%. The DAX is indicating down 8% and Dow futures are down 600.
Both my gold and bond positions will undergo massive meltups tomorrow. I am 25% long TLT, 25% GLD and three miners, all outlined in Exodus, and 50% cash. I do believe markets will drop, precipitously, before we bounce. I will use the power of my algorithms to time the inflection points.
Look, crude is off by 6.5%. This unwind in crude is almost as important as BREXIT. The closer we get to 2017, the worse off for credit markets, due to an enormous amount of oil and gas debt coming due.
Make no mistake, this is a victory lap. I hope many of you, who’ve been watching and trading along with me since 2007, heeded my warnings and will be able to take advantage of this decline. We were positioned sublimely.
SHOMP
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fucking Wow vix nearing 25!
Congrats, Fly. Played like a true gentleman. Well done.
fuck my target for vix was 30. but that yellen talking about vix 70 stress test has me salivating. as I hit my max on shorts 250% as i have been scaling in short from 2000 to 2100. as I am still playing 1800-2100 but do expect 1800 to break and head to 666. wonder if vix 70 lines up with 666.
could be the low for the night. looks like Pm’s are fading a bit.
SHOMP
My penis is like a rock hard oak tree right now. As the storm kicks up my oak tree thrashes violently back and forth. The flopping is becoming intense but it was built for this kind of turbulence. The ecstasy is becoming intense. Another 50 points. Oh God. Oh yes. The climax is building. Eventually all the longs will capitulate and at that point my pants oak tree will capitulate too. And everything will be back to normal. And we will be back to calm and I can get some rest.
It will be interesting to see how far down this goes before they automatically turn the market back up again and consume the shorts. Everyone will get played on this Brexit—Bulls and bears. By Q1 2017 this will be a distant memory.
+1 Dr. Fly. Well said.
I dub Dr.Fly KING of markets!
& the new background is amazing
Got short the market yesterday and levered up on my gold and treasury positions. I’ve never made so much money while laying in bed.
My congratulations to anyone who went short yesterday.
Might be a opportunity to scoop up some cheap stocks in London.
Anybody have any ideas?
There is a refreshing breeze of nationalism and populism sweeping the UK and America. Let’s hope there are some strong leaders to lead the people through the transition.
The history of nationalism combined with strong leaders isn’t really one of refreshing breezes. Could you please add “wise and benevolent” to the attributes you are hoping for in a leader?
Was regan wise or benevolent? But he did get the job done.
A smart play all around Fly. Tonight calls for the bowler hat and monocle.
Short term market pain leads to Fed dropping rates in the fall and a big inflated melt up. A buying opportunity is set before you.
I only buy corrections so I’m turning over the couch cushions. Long live the dumb money.
I’ve got puts on NFLX, PCLN, and GOOGL,(VIX calls too, woooo) but the problem is a lot expire tomorrow… I got them Thursday, so at least they are not far away, but I’m worried we get an August 24th and my limits are too high and my brokerage craps out for 10 minutes while the market surges from central banks. This is a little different though, we were at almost all time highs etc, so maybe I’m just being paranoid.
Cheers Dr. Fly,
I am 70% TLT and 20% SH.
Thank you and good day.
Let the Bells of Freedom Ring… Best headline in all of media. well said.
longs are being clown raped and the ark is full
And so it has been written …
The new way to be walked is very difficult
for the Earth human being, especially for the
human being of the white race enslaved by the
fervour for civilisation.
However, according to the inexorable laws
and recommendations of the Creation, each life
form must reap what it has sown for
itself.
Therefore, whoever sows irrational teachings
and transitory things will reap irrational results,
irrational conclusions and dust; but whoever
sows the immortal eternal truth will reap
wisdom and walk calmly through all arising
confusion of the times and constantly win.
Dude, how many beers have consumed this morning? Or is it that new batch of meth you just brewed in your mom’s basement. Fly.. please end his misery with the BANNED stick.
Bluestar must be ecstatic right now.
Nugt, + 29
Ultra-nationalism didn’t work out too well for Germany in the late 30’s but probably would have hit the exit button myself. Can’t really equate US and European circumstances, but I’m sure you will. Good day for my TZA position. Viva BREXIT!
A new wave of nationalism in Europe equals World War III, but that’s none of my business.
the new wave of nationalism is a symptom of the corruption in politics and CB’s. War is a result of corruption.
pretty much 50% of the people are unhappy with whomever is in office. Should be political activism not ultra-nationalism driving the bus. But my scum is your hero and visa versa. Ultra-nationalism is just people looking for scapegoats.