Tim Apple is in trouble here. The fate of western finance might depend on his words. I suggest he choose them very carefully.
We’re in March now — ’tis the time for earnings warnings. Will Tim warn or say everything is great? Time will tell.
Here we are now, barely off recent highs. Sure, trannies have rolled over and the VIX is beginning to spike. But the FANG paradigm is still intact.
This is how it started heading lower last time, quietly.
It should be noted, small caps are doing well today and SAAS stocks are +0.58%, so there is an undercurrent of strength in the tape. But I think it’s fair to say we overshot to the upside and now we’re digesting some of the more zealous types.
In other words, the shorts you have on now are trades and not idealogical positions that will preside over an end of days scenario. It’s fun to become hyperbolic and see bulls twisting in the wind — because they’re simple people who respond to base instincts. But don’t let a good trade turn sour, just because you have a feeling about something that has yet to materialize.
What I want to see to confirm this downturn is weakness in WTI and HYG.
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tell me the pelican room is all-in on BPTH