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THE TOP IS IN: Bitcoin, Ethereum, Cryptocurrency Nightmarish Decline Accelerates

Chartfags get in here and identify this pattern for me?

Is that chart gonna make me feel better about myself in the near term? Is this the end, the proverbial head and shoulders top, for the cryptofaggots?

For the day, the market cap for all of the 787 currencies listed is down around $15 billion, or 15%.

If this is like any other top that I’ve ever seen, expect a very small bounce followed by a cruel and long-lasting decline into the pits of hell.

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TRUMP’S TRAVEL BAN REINSTATED BY SUPREME COURT; MARKETS PLUNGE

The Supreme Court has decided they will hear Trump’s travel ban case in October, which restricts immigration from Iran, Libya, Somalia, Sudan, Syria, and Yemen. How will this great nation survive without the people of Somalia?

I can’t believe we’re even debating this nonsense.

Via SCOTUS

“An American individual or entity that has a bona fide relationship with a particular person seeking to enter the country as a refugee can legitimately claim concrete hardship if that person is excluded,” the Court wrote. “As to these individuals and entities, we do not disturb the injunction. But when it comes to refugees who lack any such connection to the United States, for the reasons we have set out, the balance tips in favor of the Government’s compelling need to provide for the Nation’s security.”

Markets do not like this sort of thing. Anything that is anti-globalism is a direct threat to status quo. Expect tech stocks to get BLOWN THE FUCK OUT. Less immigration means higher wages and zero wiggle room for chicanery. It also means Trump’s original doctrine might be picking up steam, which markets will not like — at all.

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Banks Lead Triple Digit Gains For Stocks; Yield Spreads Tighten

Today is actually a very negative day for banks, as it pertains to their bottom line — but the stocks don’t care. The US yield spread (2s,10s) have tightened again by more than 2bps to 78bps, yet bank stocks are acting like the exact opposite is occurring. This is the definition of a Costanza trade — doing the opposite for the sake of doing the opposite.

Why is this important?

Because when that yield curve inverts, it’s a virtual guarantee that the economy will soon sink into recession.

Everything feels and looks good now. But with US spreads tightening on a daily basis, US auto sales flagging, and both the retail and oil and gas sectors mired in depression, risk averse folks should pay attention and start thinking about ways to hedge or lock in gains.

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U.S. Auto Sales Are About to Dump Out

One of the major economic indicators that have proven to be worthy of investor attention is auto sales. Generally speaking, we all have one and we tend to buy new one’s when we feel good about the economy. During the 2008 financial crisis, home sales plunged by double digits — sending GM and F to the government with a tin cup — begging for bailouts.

While this downturn doesn’t seem to be that bad, it’s still negative growth at a time when the Fed is in the midst of a fucking insane hiking program.

According to JD Power and LMC Automotive, US sales fell by 2% in June, in spite of large discounts.

June U.S. new vehicle sales will be about 1.48 million units, a drop of 2 percent from 1.51 million units a year earlier, the consultancies said.

The forecast was based on the first 15 selling days of the month. Automakers will release June U.S. sales results on July 3.

The seasonally adjusted annualized rate for the month will be 16.5 million vehicles, down nearly 2 percent from 16.8 million units in the same month in 2016.

Retail sales to consumers, which do not include multiple fleet sales to rental agencies, businesses and government, were set to decline more than 1.3 percent in June.

U.S. sales of new cars and trucks hit a record high of 17.55 million units in 2016. But the market has begun to saturate thanks partly to a glut of nearly-new used vehicles, forcing automakers to hike incentives to entice consumers to buy.

This is the third consecutive month of declines for the autos. Investors should be paying attention to this.

“As the U.S. auto market enters the fourth month in a row of a sub-17 million unit selling rate, nerves are being tested,” Jeff Schuster, senior vice president of forecasting at LMC Automotive, said in a release. “It will be challenging in the second half of the year to keep pace with 2016 … but a year still expected above 17 million units should not be considered a poor performance.”

The consultancies said consumer discounts averaged $3,661 per vehicle, a record for the month.

Discounts as a percentage of the manufacturer’s recommended sale price remained at 10 percent in June, a level industry experts say is unsustainable.

Inventory levels at major automakers have also raised concerns.

The average number of days a new vehicle sits on a dealer’s lot before sale remained at 70 through the first 15 days of June.

Year to date, TSLA is +79%, while F, GM, HMC and TM are flat to down 9%.

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Trump Tweets: Hillary and Obama Colluded and Obstructed; Asks for Formal Apology

If I was a democrat, nothing would get me more upset than this morning’s tweets by the President. I believe you that you believe Trump is a Russian agent. That’s how insanity works and it’s not a laughing matter. I have empathy for all sick people and would vote to fund sanitariums to ensure you’d get the help necessary to get better (extra electroshock therapy).

Trump said Obama obstructed and colluded, because he thought Hillary would win. The reason he did nothing about the alleged Russian hacking is because he didn’t want to ‘rock the boat’, according to the President. Also, Hillary colluded with the DNC to flay Bernie Sanders alive.

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Good Morning: Cryptocurrencies Are Crashing Now; It Was Fun While It Lasted

The very fabric of the digital cryptocurrency world is falling to pieces this morning — led lower by a staggering 13% drop in Ethereum. Other unsavory currencies, such as “Anarchist Prime” are getting boondoggled to the tune of -97%.

While gains in the crypto world might’ve been stupendous, they weren’t for the latest wave of buyers — which probably invested the most money ever into this burgeoning market place. That’s how tops work. The very last people invest the most and lose the most.

Even with today’s drop, the overall market cap of the 700+ currencies is still more than $100 billion.

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Report: Democrats Are About to Hang for Debunked Trump Dossier

So many of you are triggered to the point of feverish insanity. What sort of subhuman will you become when Trump is vindicated from all Russian collusion claims and the DOJ starts tossing faggots into dank prison cells for ginning up fake intelligence reports to take down a President?

Tom Sperry from the NY Post is out with a report tonight, stating the Senate is about to ramp up their efforts in investigating the birthplace of the debunked Trump-Russian dossier, the one thar claimed germophobe Trump enjoyed getting urinated on by Russian hookers. For democrats, this might lead to a Mortal Kombat fatality move if implicated. Criminal charges might rain fire upon them — like the second coming of Jesus. Many of you still believe said dossier was, in fact, correct. To those people, dare I say, prove it…faggot.

The Senate Judiciary Committee earlier this month threatened to subpoena the firm, Fusion GPS, after it refused to answer questions and provide records to the panel identifying who financed the error-ridden dossier, which was circulated during the election and has sparked much of the Russia scandal now engulfing the White House.

What is the company hiding? Fusion GPS describes itself as a “research and strategic intelligence firm” founded by “three former Wall Street Journal investigative reporters.” But congressional sources say it’s actually an opposition-research group for Democrats, and the founders, who are more political activists than journalists, have a pro-Hillary, anti-Trump agenda.

“These weren’t mercenaries or hired guns,” a congressional source familiar with the dossier probe said. “These guys had a vested personal and ideological interest in smearing Trump and boosting Hillary’s chances of winning the White House.”

Fusion GPS was on the payroll of an unidentified Democratic ally of Clinton when it hired a long-retired British spy to dig up dirt on Trump. In 2012, Democrats hired Fusion GPS to uncover dirt on GOP presidential nominee Mitt Romney. And in 2015, Democrat ally Planned Parenthood retained Fusion GPS to investigate pro-life activists protesting the abortion group.

More, federal records show a key co-founder and partner in the firm was a Hillary Clinton donor and supporter of her presidential campaign.

In September 2016, while Fusion GPS was quietly shopping the dirty dossier on Trump around Washington, its co-founder and partner Peter R. Fritsch contributed at least $1,000 to the Hillary Victory Fund and the Hillary For America campaign, Federal Election Commission data show. His wife also donated money to Hillary’s campaign.

Property records show that in June 2016, as Clinton allies bankrolled Fusion GPS, Fritsch bought a six-bedroom, five-bathroom home in Bethesda, Md., for $2.3 million.

Fritsch did not respond to requests for comment. A lawyer for Fusion GPS said the firm’s work is confidential.

Both partners of Fusion GPS have ties to Mexico — with Fritsch a former Journal bureau chief in Mexico City, married to a Mexican woman who worked for Grupo Dina — a beneficiary of NAFTA.

His partner, Thomas Catan, formerly from Britain, once edited a Mexican business magazine.

Perhaps we should now investigate the Democrats’ ties to Mexico?

Senate investigators are demanding to see records of communications between Fusion GPS and the FBI and the Justice Department, including any contacts with former Attorney General Loretta Lynch, now under congressional investigation for possibly obstructing the Hillary Clinton email probe, and deputy FBI director Andrew McCabe, who is under investigation by the Senate and the Justice inspector general for failing to recuse himself despite financial and political connections to the Clinton campaign through his Democrat activist wife. Senate investigators have singled out McCabe as the FBI official who negotiated with Steele.

Like Fusion GPS, the FBI has failed to cooperate with congressional investigators seeking documents.

 

It’s entirely possible we’re about to see the pendulum swing violently against the democrats, with widespread investigations into this dossier, Lynch and how the CIA and FBI got duped into believing it.

Why do I give a shit?

I’m here for the chaos.

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Markets Are Set to Move Higher Again; I Am Embedded in Wanton Degenarcy

Pardon me, I’ve had too much to drink. Nevertheless, futures are indicating higher. Oil is higher. I have 60% of my assets in small cap refugee stocks, hoping to make it to the promise land and become rich.

Some of my longs include AWRE, ANIK, CEVA, DLTH, PBPB and FRO.

None of the aforementioned stocks were made subjectively. Instead, they were automated. By my robots, at my behest.

The modality of the market has been straightforward, no chaser: up. But, it’s worth mentioning, yields have been plunging lower for all of 2017 — creating an Obamaesque environment — whereby financials might soon get trounced and only tech will flourish. We’ve already seen these trends play out in recent months. The Trump reflation promises have fallen short. The oligarch supremacy will annihilate any and all populist skirmishes. Free cash flow amongst some of the elite companies has exploded to the upside, causing multiple expansion to grip cynics and force them to acquiesce.

Stocks are trading higher because profits have risen. The only viable path forward is to focus on companies growing the bottom line. This might seem foreign to some of the chart slaves amongst you. But, in your spare time, take a gander at the best performers and find solace in knowing there are men out there, like me, who understand how it all works.

Even though I’d like nothing more than to see markets cracked asunder, I am smart enough to see that nothing, literally nothing, can stop it from heading higher (I ironically write this in the hopes of jinxing it, a paradox indeud).

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Joe Rogan: The Left Are Eating Themselves

My political positions probably resemble Joe Rogan’s best — traditional liberal on social issues, while being fiscally conservative. While some of you might think I’m this great big fucking Trumpster up here, drinking the sauce, you’re fucking wrong. You can look at how I skewered the Tea Party faggots in my archives a few years ago.

I hate extremists of all kinds. Whenever I see ANTIFA faggots burning poor defenseless garbage pales in the streets, I freak out. All of the rhetoric on the left is disjointed, divisive, and 100% idiotic. I could never get behind a brand that is supported by neo-feminists, neo-racists, and neo-communists. The whole working theory behind the democratic agenda, a toxic mix of hateful politics and elitism, is beyond the pale.

While I agree with many of the democratic issues, I can never support a party that riots in the streets against invisible nazis, asking white people to kindly fuck off because of all of their privilege. Excuse me fucked face, I grew up in the sewers and had to gnaw my way out of a burlap bag filled with rats to make my mark here. If you’re looking for elitists, quit looking at the color of one’s skin and instead the men in positions of power who use it to infect this country with their filthy and degenerate brand of culture.

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Saturday Afternoon Funnies: Will Loretta Lynch Die in Jail?

On Friday it was announced that the Senate has opened a probe into Ms. Lynch and her election time shenanigans, ‘political interference.’

While we’ve all be mightily entertained by the Russian probe by retarded democrats, one has to wonder if a counter-strike is coming — taking direct aim at Lynch, Hillary and the balance of the felons at the DNC.

By no means do I dare to exonerate any of the republicans from similar crimes. But I am acutely aware to the fact that these politicians, more or less, adhere to the rules of the game — even if it means tossing one of their own into prison for a long period of time. Every once in a while, a Sandy Berger, who gets to walk free in the face of blatant crimes, only to DIE shortly thereafter.

My question to you is multi-faceted.

Do you seriously think Trump can make it 4 years without a systematic impeachment process beginning?

Moreover, if this is a game of chess and the rules of the game must be adhered to, will both Hillary Clinton and Loretta Lynch DIE IN JAIL, for the felonies they’ve yet to be convicted of?

Trump’s attorney weighs in.

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