Stocks Lift All the While Oil COLLAPSES

WTI is off more than 4% this afternoon, as stocks–genteelly–make their way towards new record highs. I understand many of you are of a bearish quality, always preying upon the sick and the addled, scaring thy neighbors out of his or her stock portfolio. But you should know, as students of the market, up is down and down is up and sometimes $600 billion in distressed energy debt is a good thing. After all, how do you think this country was built? Back in the olde colonial days, no one gave a shit about credit quality. They’d lend money to folks building rail lines and never see it again. Said fellows would be residing up in the very best European manors, enjoying the fruits of the lenders labor.

Markets will spring ahead because markets like to spring. You and I can bellyache all we want about Italian banks being greasy, dirty, and wholly insolvent. But who gives a shit? Grab a bag of cocaine powder and throw it into the faces of anyone trying to fuck with your mood…man.

For the moment, oil and those dastardly biotech stocks are leading the downside, while gold and utilities are erecting higher.