I talk a lot of shit, mostly to draw a rise out of some of you. I understand it’s a fool’s errand to be bearish for a long period of time — but it’s so much damned fun. I can’t resist.
This morning I got caught holding a Chinese shit-bag, so I sold it — PDD for a -9.5 drubbing. That was partly offset by my profit in FTDT, +5.3%. I have several others longs down, but I’m mostly cash and long inverse ETFs and gold. I am not adding to anything here, because I have enough shorts and do not want to short into the hole and get hole’d.
I am looking at the IWM closely and do not like the fact that crude is strong. Junk bonds are stable an panic is at a minimum. I’m looking at $150 on the IWM for near term support. Bear in mind, we’re in a new FAGbox and have built it since the beginning of the year. It’s very important we hold this level, otherwise it’s very possible we will see a trend reversal and complete fucking of markets.
It’s too early for this shit. I read this note by Goldman on tariffs and I felt like my brain was going to explode. Maybe one of you mathematicians out there can spell it out for me.
Goldman Sachs estimates that if the president imposes duties on the remaining $300 billion in goods not already targeted, it could lower earnings estimates for U.S. companies by up to 6%.
That impact is in a worst-case scenario, issued as the U.S. escalated tensions in the trade war by raising the tariff level to 25% from 10% on $200 billion worth of goods.
In reality, Goldman said the impact probably will be less as companies adjust prices to make up for increased costs that the tariffs generate. The firm expects companies in aggregate to have to increase consumer prices by 1% to make up for the tariff costs.
If profits will be hit by 6% off 25% tariffs, why would they only off-set the increased costs by 1%? Please explain.
In other confusing news.
Fed’s Bostic: Both Upside And Downside Economic Risks – CNBC
Nasdaq fits are down nearly 100. I told YOOOO not to get involved with dat.
Here’s the top news on CNBC now.
Google has suspended business activity with Huawei that involves the transfer or hardware, software and key technical services.
That means Huawei will not be able to license the Android operating system complete with Google services and will instead have to use an open-source version.
Analysts said that could cause big problems for the company internationally, where nearly half of its smartphone shipments go.
Other Huawei suppliers, including Qualcomm and Intel, reportedly told employees they will not sell to the Chinese firm until further notice.
Bear in mind, we have the fucking CFO under house arrest in Canada.
And here is what the top talking heads for Beijing are up to on Twitter now.
The US Commerce Department put Huawei on its Entity List, making trade war more like a real 'war'. Trade talks have been stuck in deep shock. The Chinese are more convinced concessions won't bring peace. The only way for China is to strengthen independent research & development.
China to U.S.: You wanna cut us off from your electronics components? We’ll cut off the materials that go into the components. How does that sound? https://t.co/py9B77fA7i
#China state TV airs anti-U.S. films in prime time over the weekend, preparing the public here for a protracted trade war. (All 3 movies about Chinese triumph during the Korean War.) pic.twitter.com/Xabmlw4NmN
I don’t want to get into the weeds of how much money I stand to make in my short bets now, but instead would prefer to express how disappointing the Game of Thrones finale was last night.
What in the fuck was that?
Here is a few scenes with a much needed laugh track attached.
Related: Dow futures are +100. This will not survive the evening, believe me. Crash is coming, so horrible and morbid. It’s going to be the greatest crash ever — it’ll make 1929 look like a fucking cake walk.
I woke up and was instantly made butler of the residence. My job entailed cooking, cleaning, and also chaffering the residents of House Fly in and around Princeton, NJ. We visited numerous farms and took a quick opportunity to see how cheese was made for the thousandth time. I spotted a wine tasting room and partook. It was just like Napa, minus the quality and cache.
My lunch consisted of a tin of Virginia peanuts that I bought and a cider donut.
After the food job ended, we had to explore the area for “articles of decor”, since we’re selling the house and really really need a new table. That’s gonna make people buy it, not the tens of thousands of dollars invested into trim work and fancy ceilings and shit like that. When I was a younger man, I tended to spend money more freely. My thought process was that I needed to push myself to make more and to not concern myself with budgeting or constraining myself in any way from the hedonistic lifestyle I both desired and deserved.
By late afternoon, my head began to pound due to lack of crack-coffee and I quickly grew bored of Mrs. Fly’s caprices. I’m here now in my study, drinking a Cafe Americano — trying to get past the personal stuff of my day and into the sticks of why you should be concerned with equity prices here.
This market is like the best days of your Grandparents, the halcyon days when they were old, but wise, still agile, and seemingly impervious to the age that crept up on them. Fast forward just five short years and time took its toll, tremendously, and their frailness showed, like a snowcap melting under the heat of the sun.
This trade war doesn’t look like it’s going to be resolved. And US investors don’t seem to give a shit about anything at all. But there is something happening now that is beyond the scope of our control. China isn’t immune to this war and even if they were — they like to fuck with their currency, by depreciating it to gain an advantage on America via trade.
Watch the USD/CNY cross very closely this week, for your pathetic lives might depend on it. Should it break $7 to the upside, you’ll want to get your priorities in order and make arrangements for the after-life — for shit is gonna pop off and markets will get BOGGED the fuck out.
It’s all over you losers. The market showed you it’s cock today and it’s very small. It’s a micro-penis and can do no fucking at all.
Come Monday, the easterly winds will howl and permanent bulls cleaved from the field, gray matter exposed and splattered, blood drained and the body weakened into a catatonic state. You will rue the day you didn’t follow Le Fly into the FAZ mobile.
I leave you now a confident man, long NUGT, FAZ, DRIP and TVIX. May the Gods smile upon me and shit on you. Your designs are repetitive and boring. Trust me, the Black Flag will be served on Monday, generously, and all of you will be crying energetically into your showers — cowering in fear as the storms of fire descend upon you.
Good thing I don’t give a shit, otherwise I’d be inclined to take exception to this rout. This headline seems to have cut the dicks off stocks.
You’ve got to be kidding me. This is the same news for the past two years. How many times do we have to endure the trade war pump and dump? So now we’re setting up for a Mnuchin or Kudlow jawbone next week, followed up by a progress update on Trump’s fucking Twitter account. You’re all brainwashed into believing nothing can break stocks. That’s where you’re wrong.
China is going to learn one way or another. Either we’ll get them with our banks and trade — or our insidious culture. We’ll teach the Chinese to hate each other, themselves, turn gay, listen to degenerate music, watch immoral programming, and promote promiscuity — all for the sake of roping them in. If they do not rope in, we’ll rope them out.
ENTER LUCKIN’ COFFEE
This is the Starbucks of China — with over 1,700 locations in China, jut behind Starbucks’ 3,000. Thanks to the trade war, I suspect China will find a way to fuck all American companies doing business there, boosting the prospects of local yocals.
America will teach the Chinese to enjoy coffee and to throw away their disgusting green tea. Right after that, we’ll teach them how to cut their dicks off and to transition the men into women and the women into furries.
This is how you get shit done, when you don’t want to get shit done.
President Trump and the United States escalated trade talks with “bullying behavior” and were the reason why they fell apart, a spokesperson for the Chinese Ministry of Commerce said in a press conference, according to state-run Chinese news source Xinhua.
“The two sides had open and constructive communication during the 11th round of the China-U.S. high-level economic and trade consultations,” spokesperson Gao Feng said.“However, it is regrettable that the U.S. side unilaterally escalated trade disputes, which resulted in severe negotiating setbacks.”
“China always believes that raising tariffs is not a solution to the trade frictions,” said Feng, however, China will be forced to take necessary countermeasures, he said.
“We urge the U.S. side to correct wrongdoings as soon as possible to avoid causing heavier damages to businesses and consumers in both countries and dragging down the global economy,” Gao said.
Good luck with that Gao. Trump is gonna read this shit and Tweet something awful towards you in 3,2,1…
My son decided it would be wise to set his alarm for 5:30am this morning. That’s great, only that it didn’t wake him up at all. But it was quite effective at waking me.
I let the fucking dogs out in the yard and the coyote is always well behaved, looking after the other lap dog — who is a fucking idiot. Yesterday the idiot dog got stuck under the woodshed chasing some animal. She was there for about 20 mins with me yelling at her to crawl the fuck out. She had done this last summer and, in a panic, I nearly tore down the whole shed to free her. As I was axing away at the shed floor, the idiot dog decided to escape and run off.
Early this morning, the idiot did it again.
Futures are -200 and the FAZmobile is revved the fuck up — readying to skid off.
Market’s don’t bottom on Fridays. Enjoy your losses.
