Look at Me — I’m a Doctor Now

In light of all this noise, I decided to get long pre-revenue biotech in order to play the hype and ride the wave.

I bought REPH — because their non opioid pain meds is targeting a major market and America is addicted to Oxy.

And I bought BLCM — because it is the worst performing CAR-T play out there — probably for good reason. Nevertheless, I like my chances.

Fuck yeah, ‘merica.

I’ve wrapped myself in the American flag, Budweiser can in tow, and purchased shares of AKS. After I bought them, I went outside and farmed a little bit, let off 300 rounds from my AR-15, and then proceeded to light fireworks for the next 30 minutes. After that, I BBQd some fucking hotted dogs and baked beans, and then washed it down with some iced tea, whilst watching repeats of the 1969 World Series.

The chart on AKS looks dreamy. Plus, it is my patriotic duty to buy these shares. If you don’t buy them, you are a traitor, in no uncertain terms.

MAGA, Top Kek, LOCK HER UP, BUILD THE WALL, Drain the swamp. Based! Tired of winning?

Fucking cringe.

Try to get your heads around this one. Gary Cohn resigns and Bitcoin crashes.

At the time of this post, BTC is lower by 12% and the entire crypto world is getting whipped upon the gibbet. The entire crypto market cap is roughly $400 billion, down 50% from the highs.

Trump got elected because he made a promise to the steel workers in the rust belt that he’d punch back on trade — fight to protect jobs. Perhaps blue collared work is beneath some of you. I certainly know it is beneath me. However, I have empathy for people living in retarded rural areas with nothing else to do than waste their lives away. Now there’s a human narrative that needs to be discussed and it all has to do with choice.

Is it ok to sacrifice an entire genre of people in order to produce cheaper items for the masses? Sounds like slavery to me. In this instance, we have relegated millions as wards of the state, creating a deleterious situation for the bloodlines of all those families hit hard by the loss of industrial jobs in the midwest.

Now I know my advisor friends truly despite robo-advisors and they mock them often, not because they’re horrible for investors, but because it literally means loss of jobs in the finance world. Imagine a world where it was the policy of the United States to actively promote the exportation of financial advisory jobs to overseas robo-advisors. I bet you absolute faggots would be seething, absolutely.

Here’s Kyle Bass offering common sense to the steel tariff industry. It’s about national defense and the rust belt — the millions who’ve been afflicted by opioids in the past decade because Dad lost his job and the family went downhill fast: the human element in this wonderfully fucked up moneyed world we live in.

“We import 4 units of steel for every 1 that we export. And for aluminum, we import 90% of our basic aluminum needs.”

Tired of winning yet? By the way, if this is what winning looks like — could you imagine what a Trump White House that was actually losing might look? Perhaps we’ll learn of people falling over iced cubes and into sharp dinnerware, or onto train tracks into oncoming locomotives.

Nevertheless, as expected, nothing has resulted from Cohn exited, as the Nasdaq stretches into positive territory — up from -100 in last night’s pajama clad futures session, which must’ve been attended by all of DCs dumbest stock traders.

Even still, I have a duty to uphold here and I’d be remiss if I didn’t share some news. I sold out of my SPY position a short while ago. It was a systematic trade that was designed to be held for only 3 days, based on the Exodus oversold signal. Reason being: the data suggest a 3 day hold would be optimal. Ergo, I booked a 2.2% gain with 20% of my assets and have now jogged on.

Into the wilderness I go, looking for new ideas. In total, my buy the dip excursions, based on the systemwide oversold signal, did quite well — +2.2% in SPY and +14% in SOXL.

People are absolutely losing their shit, absolutely, because Gary Cohn resigned from the Trump carnivale. What’s important to note was Gary’s initial motive for joining Team Trump — being able to easily divest ~$250 million in Goldman stock, plus getting the opportunity to scratch working inside the Oval Office from his bucket list.

As a lifetime democrat, Cohn leaves House Trump with his reputation unchanged, and pockets inexorably thicker.

The idea that Dow futures are down 400 on this news is ridiculous. More than 100 NASDAQS have been removed from the national treasury and for what?

It’s important to note that Bloomberg is speculating tonight that Trump will widen the tariffs, especially targeting China. However, all of that is speculation and most likely untrue, at least in the interim.

Having sold my SOXL position today, I will most likely be buying this dip tomorrow morning.

The very evil and malevolent Gary Cohn, #2 cuck at Goldman Sachs, has fired himself over Trump’s proposed steel tariffs. Like a baby crying over seeing shit in his sandbox, Cohn has decided to extricate himself from the MAGA platform and crawl back into the private sector — where he could enact trades that can do far more damage to the economy than anything he’d be able to do at the White House. For a man like Cohn, this is a most preferable decision.

His statement.

“It has been an honor to serve my country and enact pro-growth economic policies…I am grateful to the president for giving me this opportunity and wish him and the administration great success in the future.”

Several months ago, the idea of Cohn leaving would’ve laid waste to the stock market. Since then, markets have found their footing and no one really gives a shit now. Literally nothing can stop progress.

SPY futures are -1.2%.

Good riddance, fucked face.

Food for thought. Working for Trump, Cohn was forced to divest his shares in GS. As such…

Cohn's take home from working just over a year with Trump: $284MM tax free

— zerohedge (@zerohedge) March 6, 2018

If you recall what preceded the 2008 financial crisis it was the 2007 $100 tomato fear. You can search these archives and see the fun times we had — a much younger and verbose Fly grandstanding in front of the out of control commodity bandwagon. We pined for oil to keep going higher, not because we wanted to make more on our shale plays, but to physically remove cars from the streets because of the expense — leaving the working class to the busses and subways whilst I enjoyed the freeways in leisure and without traffic.

These were good times and Jim ‘Bow Tie Fucker’ Rogers was our leader. Then everything changed, housing collapsed and the dream of the $100 tomato wilted away — replaced by debilitating deflation.

Eleven years later, here we are with asset prices high, no one really giving a shit about tomatoes anymore — because they’re all obsessed with avocados. Thanks to President Trump’s tariff plan, real inflation is being priced into the market now. While we may never bear witness to the $100 tomato, we may very well see a $100 avocado. Praise the Lord.

Here’s the logic. If China has been exporting deflation to us via cheap goods, then Trump’s tariffs will not only increase the price of goods, but they might also reverberate into other goods, eliminating the deflationary forces of the foreign markets, paving the way for actual and real inflation.

The trade is to be long raw commodities, short dollars. We’re even seeing a reaction in the TIPs market.

As for the specter of the $100 avocado, perhaps get long CVGW and profit as hipsters around the country get fucking REKT as they order avocado toast with their little faggot friends.

Trump is thinking about signing the steel tariff bill next week in Pennsylvania steel country. But before he could do that, Goldman’s Gary Cohn is desperately trying to change his mind. Bloomberg is reporting that it his efforts fail, he will resign.

SCOOP: Gary Cohn has orchestrated a meeting on Thursday between Trump and executives from American aluminum and steel end users who would be hurt by the tariffs, sources tell me and @margarettalev.

It’s part of a last-ditch effort inside admin to stop or blunt the tariffs.

— Jennifer Jacobs (@JenniferJJacobs) March 6, 2018

“Colleagues and friends who have spoken to [Gary Cohn] believe he could resign at any moment. Mr. Cohn and other aides felt blindsided when word spread Wednesday that the tariffs were imminent, White House aides said.” (via @wsj) https://t.co/OKhpKGaTLN

— Steve Kopack (@SteveKopack) March 3, 2018

Frankly, people have been crying wolf about Cohn resigning since day 1. But you and I both know Cohn isn’t long for the Trump White House.

Here’s Goldman’s take on the proposed tariffs.

“Import tariffs make the U.S. less competitive by raising the prices of raw materials,” the New York-based bank said in a report received on Tuesday. It added: “By imposing across-the-board tariffs to all steel and aluminum imports, the larger economic impact is on Canada, Mexico and the EU, and it ironically eases the economic impact to China and Russia.”

Goldman said the U.S. action — which invokes Section 232 of the 1962 Trade Expansion Act — would risk adding to inflationary pressures just as the Federal Reserve has been raising interest rates. “The tariffs reinforce the reflationary pressure already under way globally.”

“Net consumers of steel and aluminum in the U.S. now face cost disadvantages relative to their international competitors, especially at a time when the labor market is tight and wage inflation is picking up,” the bank concluded. “This is the irony of Section 232: a tariff intended to support U.S. industry may end up boosting margins and investment for a small subset of producers while leaving the broader economy at a disadvantage.”

Former Treasury Secretary Larry Summers calls Trump’s plan “probably the most irrational economic policy that any President has ever introduced in the last half century.” Really? See when people read shit like that, it automatically sounds like horseshit.

Trump's tariff plan "is probably the most irrational economic policy that any President has ever introduced in the last half century," former U.S. Treasury Secretary @LHSummers tells me, calling it "really crazy, dumb protectionism."
https://t.co/C2z9qgdXw2

— Christiane Amanpour (@camanpour) March 5, 2018

With regards to Canada and Mexico, the President is said to be flexible on providing them exemption, only if they’d be willing to renegotiate NAFTA.

From a media watchdog perspective, they’ve unhinged and are losing their shit over these meaningless taxes on items that can easily be produced here. Relax, the sun also rises.

It’s probably going higher — but I wanted to go eat something without having to worry about this fucking stupid ETF. It’s 3x long semis and is capable of chopping my fucking dick off clean with one fat finger. Being that I am +21 points on the thing since Friday, I felt now was a good time to sell.

I will have all of my others longs and they’ll likely remain in place. I am tempted to hedge — because we’ve run up so much, so soon. However, this is short squeeze territory and I’d rather be in cash and wait for a pullback then get steamrolled in a squeeze.

Nevertheless, I’m gonna go see about that breakfast now.