Markets Recede From the Highs, as Lunacy Lessened Throughout the Day

For the record, I am long SPY since last week and have a vested in seeing prices rise. But this move higher is more than unjustifiable; it is treasonous!

Back in the old days, men would be whipped at the gibbet for buying stocks on news that the Fed was going to hike rates, one day following news it would not hike rates. In other words, the Yellen Fed has lost all semblances of respectability. Her underlings do not respect her– or she’s playing a duplicitous game of good cop v bad cop, like an idiot in the 4th grade.

The wholesome idea that corporate profits are going to flourish in this environment is inspirational and filled with zest. I invite you to go long equities, into the energetic blades of a lawnmower. While the months of March and even April are a boon for investors, especially those intent on investing like imbeciles, I challenge you to try that sort of vaudeville in May or even June, when markets fall in under the grips of shock therapy–heading into the wondrous vote for BREXIT and the seasonal summer doldrums that should pose as an unstinted bridgehead to the apocalypse.