The market was gifted with an earnings warning out of Micron today — on the same day President Biden signed “The Chips Act” — which is corporate welfare and grift to Taiwan.
Set your retarded emotions aside and have a look at the fucking MU chart.
Do you mean to tell me that’s a bullish chart?
It’s over fuckers. The summer rally has ended and in replace of it is nothing but darkness.
The temptation to long commodities is ever present. However, I am not being fooled by that either. If recession, oil will circle down the drain and never come back. I know all leading economists have all of a sudden changed the definition of recession — but did you know the 2-10yr bond inversion is nearly 50bps now — the widest chasm since 2000?
Do you know what else happened in 2000? The biggest fucking market calamity of all time, peak to trough 75% down in the NASDAQ — me at 24 new to the business wanting to blow my brains out. Yet here I am 22 years later warning you about it.
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There is no recession.
There will be recession but there is presently no recession.
The 2-10s are -50bps because bond traders are being fucking delusional and the 10y is going to break into a thousand pieces.