FUTURES PLUNGE; CHICANERY ENSUES

I did not expect to be entreated to -300 on the Dow. But here we are, speeding in a car made of dynamite sticks heading for the sun.

I think the market should be strapped up to the gibbet and whipped with merciless vigor. I don’t like anything about this sort of action, even though the decline is merely a third of yesterday’s returns. Down 100 Nasdaqs is still a big deal and could lead to even greater losses.

Plus, Germany is down 2.5%, the 10yr bond is down 4bps to 2.75%, and gold is heading higher again. All of the ingredients for a grim open and session are there. I’d like to remain bullish and tell you nice things, pretty things, about FAGboxes and how fun and easy they are; but I cannot — because the night is dark and filled with terrors.

You have two choices now:

Buy and hope to God something god happens.

Sell and go to cash.

You can sell and go short, but then you risk getting chopped up into pieces should the market reverse higher again.

My early tells will be WTI, HYG, SRLN, and GS.