Experts Everywhere Agree: The Bottom is In!

That was a hard racked recession. It lasted all but 8 weeks; but it was the hardest and most arduous 8 weeks of my entire life. Lads were swimming about the frigid waters of Princeton, NJ in search of fish to feed their families. Local townspeople were strewn out across the Small World Coffee outpost, with broken brokerage statements in one hand, a pink slip from their Bakken oil field operations in the other.

I, as an onlooker, was powerless to effect change. I took to the internets, like a modern day Robinhood, to take from billionaires, like Broadway Bill Ackman, placing sums of coin into the pockets of my readers, so that they might buy themselves a luxury or two. A soda pop here, a bag of popped corn there.

All that in mind, markets soared today, in magnificent fashion, higher by 348. Gains were abundant everywhere, even for Pershing Square. The late date reversal we all bore witness to in VRX, going from $59 to $65, was nothing short of a miracle, equal to that of Moses parting the red sea. If, by chance, you were a devil atheist before today, you should be convinced hitherto now that there is a supreme being watching over us.

The internet agrees: the bottom is, inexorably, in.

The Bubble Basket inside of Exodus moved higher by 3.65% today. And, the GARP portfolio, which is a semi-annual actively managed portfolio by yours truly was +1.9% to the good.

Rejoice and pop champagne corks into the faces of the most vicious of bears. They can do nothing other than sit back and watch you pour the liquids of success over their childish heads.

Voting commences today in 11 states, stretching the nation. Despite widespread media hatred from both sides of the aisle, the often derided, seldom beaten, Donald Trump, obstinately, looks ready to babality the remainder of the GOP contenders, paving the way for his inevitable GOP nomination.

Recent polling suggests he’s up in every state but Texas, which is becoming more and more meaningless as the world turns.

I don’t care enough about politics to offer a strong opinion. I merely gravitate towards the person who can offer me the most entertainment. Hillary Clinton is the very definition of ‘boring as fuck’. I’d never want to see her corrupt looking bureaucratic face on my teevee, telling me about her plans for war.

Fuck that. No interest, whatsoever.

I want the guy who’s gonna build a fucking wall, God damn it. Trump plans to bestow upon this great nation a modern day marvel, one that will last for eternity (or until someone blows it up) and have our impoverished neighbors to the south pay for it.

‘merica, gilded.

Firstly, I’d like to acknowledge the excellent work of Citron for calling the bear case on this before anyone else. The stock has fallen 200 points from its peak and it looks like things are entering the final stages of the prolonged drama.

In light of recent events, the fucktards at Deutsche Bank are suspending coverage on the stock, because they haven’t the slightest clue of what the hell they are doing.

Via Briefing.com

Valeant Pharma: Suspends coverage following 10-K delay, removal of ’16 guidance — Deutsche Bank

Following co’s decision to delay in filing its 10-K, Deutsche Bank suspends coverage on prior Hold rated VRX. Firm has long been skeptical of the VRX business model that had formerly depended heavily on fast-paced acquisitions, aggressive cost cutting, tax arbitrage, aggressive US price increases, and a heavy debt load. As co transitions to more of an “organic” execution and de-leveraging story, it will become increasingly important, if not crucial, to be able to track co’s financial performance. With the stock having sold off significantly, and with some other analysts having become more cautious, they would acknowledge that the risk/reward profile of the stock has become more interesting.

Today’s downward move equates to another jaw dropping $100 million loss for Pershing Square.

This rally has everything to do with a sigh of relief that the economy isn’t falling to pieces. The economic data has been inspiring, which is forcing money back into stocks. Remember, there has been a capital flight out of stocks since the year began. Lots of that money found safe harbor in government bonds, which are being taken to the woodshed today.

The rotation is in effect now, which is supremely bullish for equities.

Also, a vital and key component of the market, autos, demonstrated a strong hand this morning, reporting excellent auto sales for the month.

As such, the price of palladium continues higher.

Some of my favorite ancillary ways to play the autos are HAR and CMI, both strongly higher.

It’s worth mentioning, since we’re on the topic, the transports have been behaving magnanimously.

Most impressive are the gains being enjoyed in the banks, up to the tune of 3.8% in certain regional plays. This is a full blown, cocaine infused, Wall Street shindig. My only reservation is the tepid breadth, standing at just 76%. I’d really like to see it over 85% in order to exact maximum pain amongst the bear population.

There isn’t a worse feeling in the world than seeing your stock being drawn and quartered as the overall market defies gravity and soars to the delight of a very ebbullient and self gratifying crowd of barbarous men.

ASPS requested the delayed filing in order to complete impairment testing and valuation analysis of goodwill, intangible assets and long-lived assets in its Technology Services segment and to complete its financial closing procedures.

The Co currently anticipates that the analysis will result in impairment losses of up to $80 mln as a result of the testing and valuation analysis.

The Company intends to file its Form 10-K on or before March 15, 2016.

This company was entangled with OCN and their subsequent SEC investigation. They’re also based out of Luxembourg for Christ’s sake.

Construction spending rose to the highest level since 2007. Auto sales were up 20%+, across the board. The economy appears to be doing just fine.

U.S. construction spending surged in January to the highest level since 2007, in the latest indication that the economy was regaining momentum after slowing in the fourth quarter.

Construction spending increased 1.5 percent to $1.14 trillion, the highest level since October 2007, as both private and public outlays rose, the Commerce Department said on Tuesday. That followed an upwardly revised 0.6 percent increase in December, previously reported as a 0.1 percent gain.

Economists polled by Reuters had forecast construction spending rising 0.4 percent in January. Construction outlays were up 10.4 percent from a year ago.

As such, the Nasdaq and all of the broader indices are moving higher, quite aggressively.

Everything but VRX and TWTR, of course.

I have to admit that I am surprised by this effort. For bulls, this isn’t exactly ideal, to have such strong economic data ahead of the March Fed meeting. It’s quite possible the Fed will move to hike rates, stymie the markets vertical move and ravage your portfolios, wholesale, all for the sake of normalization.

Nevertheless, it is a good rally, born from the right stuff. If it weren’t for the Fed, I’d be a lot more optimistic about the markets chances for a sustained rally. Even so, it appears that my outlook of rallying through April might begin to gain traction.

As for me, I am 75% cash, 25% TLT, waiting for an oversold market to take advantage of. This is a new beginning and methodology for me, one that has, thus far, provided me with peace of mind that cannot be replaced by moronic trading that was likely to give me a heart attack.

Let this post serve as a succor to all of you bearshitters out there who are getting lit up this morning, as the Dow and Nascrack careen to new highs.

In a BBG interview this morning, former Fed Chief, Alan Greenspan was talking shit. He doesn’t like China, not one bit. In addition to that, he’s super pessimistic about Dodd-Frank and everything else, due to entitlement programs. Apparently, the cold hearted Greenspan isn’t a fan of wanton corruption and waste via welfare programs.

Please recall it was Mr. Greenspan who presided over the fucking housing debacle, which led to the financial crisis–thanks to his insane Fed policy of hiking rates 16 consecutive times.

You’ll want to pay attention to this. Here in America you think a refugee crisis means some Mexicans sneaking across the border to cut someone’s lawn or work in construction. Over in Europe, they mean to disrupt the very fabric of society.

Germany’s Chancellor warns of this eventuality if this isn’t checked.

“If we disintegrate into small countries again, a common currency will be very difficult,” Merkel said at a party rally late Monday in the western German town of Volkmarsen. “What we are seeing in recent days, with certain countries going their own way to the detriment of another country like Greece — that isn’t the European way.”

Members of the EU will be meeting with the leader of Turkey next week, likely to bribe him into keeping the savage at bay.

This is not a great revelation. Anyone with a mind for finance could clearly see the force by which deflationary pressure have been ravaging throughout the globe. Finally, some of the Fed heads have taken notice and have been easing back on their injurious rhetoric.

“On balance, I am somewhat less confident than I was before,” Dudley said in remarks prepared for a speech Tuesday in the Chinese city of Hangzhou. “Partly, this reflects my assessment that uncertainty to the outlook has increased and that downside risks have crept up.”

“At this moment, I judge that the balance of risks to my growth and inflation outlooks may be starting to tilt slightly to the downside,” Dudley said. “The recent tightening of financial market conditions could have a greater negative impact on the U.S. economy should this tightening prove persistent.”

“Tighter financial conditions abroad do spill back into the U.S. economy, and policy makers must take this into account in their assessment of appropriate monetary policy,” he said. “Of course, this does not mean that we will let market volatility dictate our policy stance. There is no such a thing as a ‘Fed put.’ What we care about is the country’s growth and inflation prospects, and we take financial market developments into consideration only to the extent that they affect the economic outlook.”

This, of course, will lend to the prevailing notion that the Fed will stand down during the March meeting, perhaps even offering succor to those in need of conciliatory dovish Fed jargon.