I’m not crazy you know. I just change my mind a lot.
Yesterday I chided you for ignoring Apple’s strength in the face of an earnings warning. With that data point, I bulked up on longs and made some good coin yesterday. Today was supposed to be grande, Le Fly sashaying throughout his library room in sandal and robe — but instead I was entreated to crisis.
We have rapidly rising rates, another UK govt on the verge of collapse because Truss was and always will be an idiot. And, on top of that — GUESS WHAT — Apple warned yesterday! Yesterday’s treasure is in fact today’s garbage.
I have a nice clean and tight portfolio now — leaning short. I would go all in short, but I am a professional and do not like to increase my beta too greatly. We are rangebound with an ultimate destination to hell.
Here is the math:
Dollars up, stocks down.
Rates up, stocks down.
Euro, GBP down, stocks down.
Stocks down down down.
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China being hammered yet again as our DC psychos look to suicide all us eaters. I hope your library has food, water, iodine, blast doors, air filtration…
Price stability, stocks down. Lower.
Gold has to be stressing the heads of the hard asset fanatics. But maybe it works out in their favour if the Fed backs down and they monetize the debt via inflation. Rate rises will meet the end of their effectiveness and be replaced by another method that will make everyone poorer quietly.
Down, down, you bring me down
I hear you knocking down my door
And I can’t sleep at night
Your face it has no place
No room for you inside my house
I need to be alone
Don’t waste your words
I don’t need anything from you
I don’t care where you’ve been
Or what you plan to do
Reserve currency status is getting hemmed-in from multiple flanks.