CRASH THE OPEN

A well deserved drubbing at the open for Pax Americana, following a day of pretend and fantasy. Stocks are back in their rightful place, SHARPLY LOWER. Amidst the din of heads splattering on the pavement, it’s important that you acknowledge the trend is LOWER and we are in a terrible bear market, in both bonds and stocks.

ALL STOCKS are down 9% for the year, a much different narrative than what the main indices suggest — negating the curious tale of “UP STOCKS” woven by the swindlers in the media.

My gains are +50bps at the open, courtesy of my $FNGD position and a trade I took in $UVIX. At the moment, I am 90% cash, long only $LMT and $BTU.

The allure of buying the dips is palpable. But you must realize the sins of America are expensive and as the fabric of society withers away like a piece of drift wood abandoned on a desolate but violent beach — stocks will suffer.

Listen to me now: gone are the days of hegemony and low rates to spur our perfidy. Rates are not only skyrocketing due to inflation — but due to lack of interest in US GOVT bonds and perhaps net selling aboard. As the US 10yr swims for 5% while the CPI data declines — think about why that is.