TLT is nearing $147. You know what the means, motherfucker? It means shit is popping off in Fed land — people getting their whigs pushed back and BTFO.
Look at what the fucking NY Fed is posting on Twitter. These people are fucking morons.
— New York Fed (@NewYorkFed) August 15, 2019
So I got to thinking — maybe nothing is going to happen. Maybe this market will do a whole lot of nothing. Under those conditions, you might as well raise cash, hedge a little, and drink gimlets until Labor Day.
I am moving now, so I can’t drink too much. But I will partake in a gimlet or two.
Truth be told, this set up is confusing. LongTARDS will always buy until their faces get blow off clean. I am of the inclination that gold is the only asset worth buying all the time. Stocks are, for lack of a better word, dead. They have shot their load and are now coasting.
Worst case: NVDA misses earnings and the semis COLLAPSE tomorrow.
Best case: Trump tweets something wonderful and we blast off.
We are oversold and we can rally a solid 300 from here. Or, judging by the technicals, rates, and commodities, we can break lower and test the June lows — about 5% lower. If that happened, would it be the end of the world?
Chill the fuck out and enjoy the scenery.Comments »