Drahgi Better Have A Big Bazooka


Draghi disappointed a bit in December and markets let him know it. He did however give a big wink and nod to the world about two weeks ago when he said he still has major bazooka- like capabilities and that he is ready willing and able to implement them.

He gets the microphone on Thursday, an all day affair, and the markets want him to blast this bazooka all over the hinterlands of Europe. Bond owners especially want this so they can sell their bonds to a bigger idiot.

The global players are in a huge game of “how low can we go” on rates as they financial engineer themselves into oblivion.

European stocks and etf’s look like they have priced in major dovishness from Draghi on Thursday, anything short could be a major disaster. He knows this, so I’m sure he plays to the crowd.

Crude ($USO) acts well here and energy is the new biotech, at least for now. Is the first inning of a massive secular bull market in energy or just a massive short covering rally? Time will tell.

Gold ($GLD) is still hanging on to gains ,and the miners ($GDX) are stretched like Gumby at May 2015 resistance levels.


The dollar is crapping again by the way and this is great for our multinationals…and oil actually.


Don’t look now but biotech ($IBB) may be trying to poke above some lateral resistance in the early afternoon hours.


The bulls that missed this move are waiting for a dip to buy and the shorts are waiting for a further bounce to get short.

Always fun at the casino.

Special 2 year pricing here.

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