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Friday, May 10, 2019

THE IDIOCY OF THE FED

“Could they do any worse than the Twits running it now?!”

Have you heard this before? … “Inflation is good!, and we want it to be at
2%” … no? … well that’s what your FED wants! EXIT QUESTION: “Since
when, and in what society has inflation ever been good and resulted in
prosperity”? … [Hint: think Venezuela.]

Take a look at the latest inflation numbers put out by the math whiz kids over
at the Department of Unicorns & Fairy Tales. Directly below, can you spot the
problem?

click to enlarge

Just take the top line and then look at the bottom line … and while the wages
picture is probably accurate, the inflation numbers are wildly inaccurate and
misrepresented to the downside … bottom line, though, even accepting their
phony inflation numbers, is that Mr. & Mrs. Middle Class lost 1.1% of their
purchasing power over the last year … “Congrats!, you’re on the Titanic and
don’t even know it”! Oh wait … I forgot … Everything Is F-ing Awesome,
Baby”!

And while our Preezy can try and “talk up” stocks all he wants, I don’t think
it’s working near as well as he thinks … just shut up already and move on
… instead, why not work on getting the traitors who tried the “soft coup”
against you shot at sunrise?

As we move forward into the day, let’s see how the “Plunge Protection Team”
[PPT] uses its muscle to move the indices higher … should be interesting.

Market opened all wrong … shouldn’t be going higher from the NYSE open,
cuz it’s just gonna be seen as a “dead cat bounce” … now we’re hitting new
lows, and we’re most definitely in the back end of the “80/10/10” paradigm
for now … quite frankly, unless we see some kind of washout, capitulation
selling event on new lows, you just have to leave this alone … yea, you may
miss the bottom, but remember when the “10” selling hits, it’s catastrophic in
nature and scope and is lead by “gamma shorts” panicking to get the hell out.
Not a scenario you want to see for buying. As we get into the afternoon on a
Friday, who knows what kind of panic sets in, or what the PPT is gonna do, or
even what the ChiComs might say to stir the pot … and of course, if you get
caught on the wrong side of it, it will be brutal with no chance to recover
… none.

Here in the P.M of New York, and not much of any bounce in the NDX100
while the risks to the downside are enormous … when you get into these
selling sprees, everything depends on strategic timing, and unless the “Plunge
Protection Team” [PPT] shows up, what you want to see before you get long is
some kind of capitulation that I mentioned before … so far, we haven’t seen
that at all … bottom line is, somebody has to blow themselves up first before
buying commences with any gusto … until then, sit and be patient, otherwise
you blow your wad too early and even a big move up will only get you back to
even. Again today, over an hour down near the low of the day [so far] … does
everybody get the chance to buy the low?

Onto the weekend … blog update Sunday night … if I do make a trade later
today, I’ll post in an update after the close. Until Sunday mi amigos
… Onward & Upward!!

Have a great weekend everybody!

-vegas



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