Markets Rage Higher; Volatility Buyers Annihilated

Markets storm trooped higher today, climbing nearly 100 NASDAQS, in a fun filled session of profit and wanton excess. On the other side of the ledger were the bedraggled microbes who buy and sell VIX for a living. The volatility gauge was effectively and extraordinarily annihilated, falling by an astounding 20% to $19.12.

We’re in an era of decreased volatility, which is why XIV is the best long term investment ever created.

For those of you in the winners circle today, parked in your wheeled chair, holding a trophy with a dozen roses inside of it, GOOD LUCK MAKING MONEY TOMORROW.

At the end of the day, Le Fly is more than victorious; he is magnanimous.

THE ARK FLOATS. It always does. In case you’re unaware, go check your quotron to see what it did today. You’re more than welcomed to drive yourselves insane, absorbing direct blows from a financial system that is teetering on the brink of disaster–trading stocks like a fucking ape. Or, the alternative is to be inside of the gold mine, or atop the ark, free and safe from the troubles currently plaguing the world.

FYI: I ignored the Exodus OS signal flagged on Friday and yesterday, for the explicit reason that I do not believe a 10 day holding period would be worthwhile at this juncture. I will be updating my position on the markets by the end of this week and will be offering some actionable trades soon.

Here we go again. Fred Kempe from the Atlantic Council, which is a Washington DC think tank dedicated towards the “mission to encourage the continuation of cooperation between North America and Europe that began after World War II.” In other words, they are a globalist propaganda arm whose sole purpose is to draw intellectually persuasive arguments to subvert the will of the little people.

Kempe makes the case for Britain to ignore the BREXIT referendum, citing three previous instances in Denmark and Ireland where referendums were ignored. This, of course, will be at the vanguard of the “ignore BREXIT” talking points, trying to persuade people to delay or deny the referendum from ever seeing the light of day.

Expect to hear a lot more of this horseshit.

You know they’re getting desperate when the CEO of a major think tank comes on teevee to blatantly say it’s a good idea to completely ignore the will of the people for the ‘greater good.’ After all, Merkel needs to succeed in forming Germany’s 4th reich, a unified Europe to usher in a new era of prosperity.

Hello totalitarianism.

The market was oversold and it bounced today. The question that you have to ask yourself is will it be higher 3,5,10 days from now? More often than not, when you get shocks to the system like this, market advances are a process, rarely V-shaped. Ergo, chill out and wait for lower prices.

Cashin chimes in and gives his two cents on what we’re seeing. Aside from the low volume, he’s not impressed by the tepid sub 1% advance in the pound today.

After falling by half, shares of BCS are ripping higher to the tune of 2.99%. Additionally, LYG is higher by 7.55% and UBS is down–stupidly.

Over here in the states, JPM is higher by 2.1%, followed by Warren Buffett’s WFC, +1.3%.

After getting punched in the face, repeatedly, low brow commodity broker, FXCM, is bouncing higher by 3.8%. Goldman Ballsachs is 1.7% to the good.

Over in asset management land, LAZ is leading the fray, higher by 5.5%, followed by EVR, IVZ and AMG.

As a whole, finnies are higher by 1.3%. The big winners, naturally, are found in the oil and gas space–based on the prospects of harrowing debt deadlines, which loom large in 2017.

Farage gives zero fucks and doesn’t have an issue making those dogs uncomfortable.

Italian markets are meat balling higher, +4.5%. EUROSTOXX 50 is up 3.5% and WTI is 3% to the good. The British Pound is up 1.4% and U.S. futs are +200.

Before diving into the markets, headlong, ask yourselves this question: is it in the globalists interest to get back to business as usual post BREXIT? It’s not like we’re jumping to conclusions when we acknowledge the fact that markets are manipulated higher, when the ECB openly admits to creating 80 billion per month in order to artificially suppress sovereign and corporate bond yields. With that in mind, if markets went back to normal, other nations might fancy their way out of the EU; and we both know they can’t have that.

Nevertheless, stocks are setting up for a strong bounce today. Keep a close eye on the banks to see if the rally has legs or is setting up to disappoint.

Oh my God, how foolish I’ve been for thinking we’re heading towards recession. All this time, I thought we were barreling downhill towards an alligator infested Disney exhibition. Meanwhile, the economy was ripping tits.

After this super powerful GDP report, those Fed Governors might have to review their dovish stances and consider hiking rates, in order to fend off an overheating economy.

Gross domestic product increased at a 1.1 percent annual rate, rather than the 0.8 percent pace reported last month, the Commerce Department said on Tuesday in its third GDP estimate.
First-quarter GDP growth has now be revised higher by six-tenths of a point since the advance estimate was published in April. The economy grew at a rate of 1.4 percent in the fourth quarter. Economists polled by Reuters had expected first-quarter GDP growth would be revised up to a 1.0 percent rate.

There are signs the economy has regained momentum in the second quarter, with retail sales and home sales rising in both April and May, even though business spending continues to struggle and job growth has slowed.

Federal Reserve Chair Janet Yellen told lawmakers last week that data pointed to “a noticeable step-up” in GDP growth in the second quarter. The Atlanta Federal Reserve is currently estimating second-quarter GDP rising at a 2.6 percent rate.

The totalitarian regime of the unelected EU, led by Germany (surprise, surprise) are taking a hardline against the UK, post BREXIT. They’re pissed at Cameron for allowing the people of Britain to vote on a referendum to leave the EU. And now they’re menacing them with economic punishment, chiding the UK to not ‘delude’ themselves into thinking it will be a seemless transition out of the EU. Merkel and co. intend to make it hard on the people of the U.K.

“There shouldn’t be the slightest misunderstanding about the conditions laid out in the European treaties for a case like this,” Merkel said in a speech to Germany’s parliament in Berlin on Tuesday. “My only advice to our British friends is: Don’t delude yourself about the necessary decisions that need to be taken.”

Merkel won applause from German lawmakers as she laid out her approach to the two-day summit of EU leaders in Brussels that will be dominated by Brexit and the political and economic fallout reverberating across Europe. As she spoke, a taste of things to come was on show in the European Parliament, where United Kingdom Independence Party leader Nigel Farage clashed with European Commission President Jean-Claude Juncker.

“Why are you here?” Juncker demanded, as he turned to look at the leading “Leave” campaigner. Farage hailed the result of last week’s vote as “seismic,” saying the U.K. “will not be the last member state to leave the European Union.”

“We will ensure the cherry-picking principle won’t apply in the negotiations,” Merkel said. “There must be — and there will be — a palpable difference between a country that wants to be part of the European Union and one that doesn’t.”

“The rest of the EU feel they bent over backwards to accommodate Cameron over the last months and he launched this reckless referendum and lost it, so the other EU states are in no mood to do him any favors,” said Mark Leonard, director of the European Council on Foreign Relations. “We don’t know how long he is going to be prime minister for, when a new government could begin to negotiate terms.”

In other news, the EU is forming an army, which will be spearheaded by (you guessed it) Germany.

Jim took off the bow tie and went straight to work today, figuring out methods by which to increase his net worth during a period of grave peril. In an interview done via Skype today (Jim does an interview with just about anyone), he predicted this recent BREXIT induced squall to be the very beginnings of a beautiful catastrophe. The City of London will be flogged about the gibbet and Scotland will declare independence, taking with them their kilts and oil money. Moreover, Jim said England would become Spain, something even the Spaniards take as an insult.

The money quote:

“This is going to be worse than any bear market you’ve seen in your lifetime,” he said on Yahoo Finance’s “Market Movers” program Monday. “2008 was bad because of debt. The debt all over the world is much, much higher now. Stocks in the US, for instance, have been going sideways for 18 months to 24 months. That’s called a distribution by many people. When you have distribution for a year and a half, it usually leads to bad things.”

This is bear p0rn, for you bearshitters out there, waiting up late nights–hoping for conflagration.

I know of many people who called the 2008 crash, but never profited from it. Wall Street is littered with such stories, fables of men who didn’t have it in them to see their visions through. Luckily for you, “The Fly” has a heart made from steel and granite, and a brain made from stone. I will not waiver, or flag, in this fight against freedom. Ultimately, this is what it’s all about, isn’t it? The very essence of our capital markets is one held prisoner to a command economy structure, one rife with orangutan styled manipulation.

Am I lying? (extra you’re part eggplant)

None of you really like the markets. Be honest with yourselves for a moment, maybe two. Sure, you might like a few companies that garner an emotional response, some stupid hamburger joint that you like, a flighty cosmetic product that you’re engendered to. But at the end of the day, like me, you hate this market. The very thought of central banks swooping into ‘save the day’ makes you want to detonate nuclear bombs over the NY Fed. Good thing you’re not a fucking terrorist in control of such a bomb, otherwise you might do it.

The point here is simple: eventually, all manipulations end. Humans are too scatter brained and eccentric to accept a rigid form of anything, let alone way of life. The idea of negative rates and/or zero interest rates for people who’ve saved money, eventually, will cause massive levels of resentment and pitched forked protests. The catamites who operate on behalf of the new world order aren’t prepared to deal with such discord.

I guess what I’m saying is, the bounce in futures now, 0.9% for the DAX, 0.6% for the SPY, is chicken feed. If you have a core thesis that extends past a few trading days, surrounded around the idea that this whole big ball of wax is set to unravel, you’d be a fool to buy stocks now–at the opening salvo of what could be the beginning of a substantial decline.

Stay true to who you are and follow your convictions. Hopefully, you’re not a moron idiot and know a thing or two about investing, otherwise keep reading these prophecies and take notes.

Asian markets are lower, led by Hong Kong–down 1.1% so far.