ENGLAND IS LEAVING THE EU; LET THE BELLS OF FREEDOM RING

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

This is unreal. British Pound-Dollar cross is now 1.347 and dropping, off by 9.4%. These are 1984 levels. With LEAVE up more than 600,000 votes or 3.2%, odds makers are saying there is a 90% chance that BREXIT will succeed.

One thing to watch, the yen is higher by 4.3% v the dollar.

Britain is going to leave the EU. As of now, all of the fear mongering and polls that suggested Britain would choose ‘remain’ were, inexorably, wrong.

What to expect tomorrow?

You shall feel the sharpest end of my blade, the one that I’ve been swinging in the wind since December the 31st, 2015.

FTSE futures are down nearly 9%. And, more importantly, US futures are lower by more than 500. The pound is off the most in 24 years, off by 7.5%.

The gamblers in England have switched sides, lads, now calling for an 87% chance of BREXIT. The two year bond’s yield is down 18% now. Gold is soaring. I think it’s fair to declare, without equivocation, “The Fly” wins again.

There is no way we bounce tomorrow with these dislocations present. There is an undeniable bias towards the bull camp, heading into this vote, which will make the unwind much worse than it should be. Financial markets are going to tighten and break.

I’ll be posting through the duration of the vote, so stay tuned.

At the last count that I have available to me, the remain camp has are in a dead heat even. The British pound is getting obliterated, down 4.5% now.

DAX futures are off by 5.5%.

FTSE futures are down 6.3%.

Dow futures are down 322.

US 2yr yield is down 12% to 0.684%

Crude is off by 2.7%

Gold is higher by 1.2%

Get it?

Keep track of the BREXIT vote here.

These crosses are fucking insane. I realize this is all theatre now. Nothing matters until the results are final. The leave vs remain vote tallies are just about 50-50 now, so it’s too early to count chickens. Nonetheless, the fluctuations are just bizaare.

The pound is off by 3.1% v the dollar.

Dollar is higher vs yuan by 0.25% and 1.1% vs the euro.

The yen is up 1.4% vs the dollar and Bitcoin is higher by 4.2%.

Gold is up more than 1% and crude is off by 2%.

Dow futures are down 243 and the FTSE is indicating -5.1%.

Oh, and bonds are soaring.

FTSE futures are down 4.5%. The DAX is off by 2.7%. Our futures are down a little less than 1%. Dow futures were down 350. This is a very fluid situation and things can change rapidly. Nevertheless, it goes to show you the risk that was being ignored during today’s tape.

Some risk off assets are rising: gold +0.6%, US 10yr bond is soaring, Bitcoins are higher by 4% etc.

The British pound is off by around 2.3%.

All of these numbers were a lot worse just a few minutes ago, so stay tuned.

UPDATE: The vote is just about 50-50 now.

You have no idea how hard tomorrow’s market will be should BREXIT succeed. Thus far, the idiotic polling data that suggested the UK would vote overwhelmingly in favor of remaining in the EU were horribly wrong. The vagrant gamblers at Ladbrokes who gave BREXIT a 10% chance of happening have proven to be less than reliable.

So far, the leave campaign is winning. As a result, the pound is down almost 3% and the SPY futures are off by 11.

Listening to BBC now, the commentators are ‘astonished’ by the results, so far.

Note: If England chooses to leave and Scotland chooses to stay, which is expected, look for Scotland to try to braveheart themselves out of Britain again.

Torrential rains and lightning are targeting the homes of only BREXIT supporters, courtesy of the NWO. Art Cashin tries to get his head around today’s rally, beguiled by the boldness of the amount of money being spent on long bets ahead of a potentially disastrous referendum result for stocks.

It is widely rumored that bad hedge fund managers paid for some exit polling and have used this idiot data to buy stocks, sashaying in and out of super high beta stocks plays whilst consuming large amounts of nose candy.

There really anything else to add, frankly. Stocks look great today. Breadth was fantastic and everything a bull could wish for is present in today’s conditions. Let’s just hope, for the sake of humanity, the BREMAIN camps is victorious tonight. Final results of the referendum will be available at 2am est.

Torrential storms have afflicted polling stations across the UK, likely due to futuristic weather weapons that were released upon the British people in order to keep the turnout low. It is widely believed that if BREXIT were to ever stand a chance, a massive turnout would be needed. With the weather Gods raining hell upon England today, the skirt wearing men in Brussels eating chocolate cake with fervent delight.

Ironically, much of the rain and flooding has occurred at Waterloo, which is one of London’s busiest stations. Soros driven lightening attacks have forced closure of numerous stations throughout England.

“Torrential rain and lightning damage have caused disruption to the railway across the south east of England today with delays and cancellations on many routes into London,” said RDG.

Even before what some described as “carnage” at Waterloo, torrential rain seeped into polling stations, with one voter in Chessington describing how she had to be carried over the water. Another said she had seen people “rolling up trousers and removing shoes to wade barefoot through dirty water” to vote.

“Another wave of thunderstorms breaking out across south-eastern UK this afternoon and evening is likely to bring some thunderstorms into the London area,” said the Met Office’s chief forecaster. “Whether these storms are as severe as those of last night is, at this stage, uncertain, but in view of storms being expected during the afternoon and evening, impacts may be as widespread as those of last night and first thing this morning.”

The London Fire Brigade’s 999 office received more than 550 weather-related emergency calls and firefighters attended more than 400 incidents overnight.

In Romford, about 60 homes on either side of Lodge Lane on Penn Gardens and Frinton Road were flooded to a depth of about 1 metre after the river Rom burst its banks.

“We’re using rescue boats to get people safely out of their properties if they want to leave them to go to work or out to vote. We’re also pumping away water and using sandbags to try and prevent more homes from flooding where we can,” the station manager, Rod Vitalis, said from the scene.

Essentially, BREXIT bulls have met their Waterloo. Markets rejoice.

The polls close in about 2 hours. Initial results will be known around 7pm est and 50% of the results by 10-11pm est.

Final results should be in by 2am est, making it a looong night for BREXIT betting vagrants.

Well played Illuminati. Well played.

His largest long bet.

His biggest short bet.

Still not good.

In other news, due to Pershing Square’s massive success, they’re moving into new office space, a vast big complex built from scratch in hells kitchen (rather befitting, if I say so myself).

At 787 11th Ave., Pershing Square is taking about 50,000 square feet on two new floors, to be built atop of the current eight, according to a person with knowledge of the plans. There also will be a gym, outdoor terraces, space for the Pershing Square Foundation and a tennis court on the roof for use by all office tenants. The hedge-fund firm will pay about $88 a square foot, down from the $140 a square foot it’s paying currently, said the person, who asked not to be identified because the agreement is private.

A partnership including Ackman bought the 464,000-square-foot building a year ago for $255.5 million from Ford Motor Co. Adam Flatto, president and chief executive officer of developer Georgetown Co., which leads the partnership, called the project a “counterpoint” to the skyscrapers being built to the south.

Here are some choice sketches of Ackman’s new digs.

Take a look at the idlers at Pershing discussing new employments opportunities.

LAVISH AMENITIES are a must for Bill. Both pool and tennis court accommodations will be provided.