Stocks Look Silly Good, But I’m Still Wearing Aluminum Foil


“I’d feel better about this rally if they were selling bonds, utilities and gold”-Jack

The jobs number looked good, but unemployment actually upticked to 4.9% from 4.7%. Hmm. Also, about 90% of June’s jobs were given to folks 55 and older.  I’m sure its fine…….

The number of unemployed people increased by 347,000 to 7.8 million. Much of this great number was attributed to the Verizon strike ending, so……

Still feel good about the number??? WooHoo!!!!!!!


the last bond vigilante, still waiting for the great rotation out of bonds

Gold is up about 10% in a month and crude oil is down about 10%. Prolly cuz oil is priced in greenbacks and gold isn’t. The dollar continues higher against crashing global currencies.

But emerging markets look better, even though folks in Venezuela will stab you in the face for a fucking cheerio.

Energy stocks look OK, but if crude drops a few more bucks then they wont. Most of the energy stock rally was pricing in 60 oil.  But things always overshoot to the upside and the downside. Always.

Materials look good. I shoot banks for a living.

As always, there are great long and short setups right now.  As negative as I am on the macro picture (we’re all gonna die), I was still net long until late Friday, now not so much.

There is always stuff to buy or short, unless you still spend most if your day watching every uptick in $TSLA & $AAPL like many do.

If you do what everyone is doing you will be average, so goes the definition.

Its quite possible, that as Rome burns to the ground, investors globally will flock to the markets of the U.S. of A to buy their stocks and get us overbought. We’re not overbought here at all.  We are still the best house in a crappy neighborhood. We’re like Brentwood and the world is East New York.

Yellen will do everything and anything to lock down our inevitable evisceration. She cant help herself.

Do you guys remember when Bernanke looked like Baghdad Bob when we were crashing, and he STILL couldn’t say the word RECESSION???? I do.  Nothing to see here.  He couldn’t say it…he just couldn’t say it.   Yellen wont either.

Anyway the market will be looking for a strong follow through Monday or shortly thereafter. If that does’nt happen, then the bears will have an epic shot to wreck this thing.

Have a special weekend and don’t take any wooden Bitcoins.

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