Fittingly, the fate of the casino now hangs on Tesla and the Iowa Caucus. Meaning Millenials...
Millenials chased three bubbles en masse in the past two years. However, only this last one has the ability to implode the Nasdaq.
The Circus is getting set to explode at all time highs. There are times when it's difficult to be bearish, this isn't one of them. We are seeing record insanity in every direction. We still don't have Iowa Caucus results due to glitches in the vote counting system. Fortunately, Democrats never win elections, they merely wait for Republicans to spontaneously explode from greed, corruption, and buffoonish over-confidence. If they had to actually win an election, it would never happen.
This is the historical view of this moment in time:
"No one saw it coming"
The global casino was rescued overnight by another massive intervention by the PBOC. Based on stocks alone one would have no clue that the virus is spreading out of control. Based upon EVERY OTHER asset class, it's a totally different story. We're only waiting for Tesla to roll over now.
Tonight, Herbert Hoover will give an update on the State of the Ponzi Scheme. Tomorrow, the Roman Senate will acquit him of record corruption.
Biblical meltdown from all time crack highs can't come as more of a surprise:
"We've never seen this before"
"Fantastic"
Biblical meltdown from all time crack highs can't come as more of a surprise:
“I’m proud to declare that the United States is in the midst of an economic boom the likes of which the world has never seen before”
"We've never seen this before"
"Fantastic"
We are seeing a level of two-way volatility that one would expect at an explosive top.
Here we see what is taking place via the S&P futures.
After the Corona Monday (Jan. 27th) reversal a week ago, the casino rallied back in a three wave retracement through last Thursday (Jan. 30) capped off by the WHO upgrading Coronavirus to a global pandemic. Then, another leg down on Friday that stopped at the 50 dma. Followed by this latest steeper yet shorter three wave retracement.
One week to nowhere:
Here is the Nasdaq regular session at Tuesday open:
Tesla is becoming the Nasdaq:
"There’s been a huge rush of new investors buying over $700 via Robinhood in the past day. On Monday, 12,000 Robinhood accounts bought it for the first time. It’s a one-stock mania. Electronic trading systems love to interact with this retail flow. Dollar trading volume in ‘TSLA’ on Monday was a record for an individual stock"
As of 10:45 am Tuesday, Tesla dollar volume exceeds the combined dollar volume of the next ten symbols. Within big cap Tech, only Microsoft is making new all time highs
Today's Tesla moonshot is compliments of Tesla's biggest bull tacking on a ~1,000% price target over yesterday's closing price. In Y2K it was the same thing, Wall Street morons tripping over each other to raise parabolic price targets. It ended in lawsuits.
And of course a super crash.
"MarketWatch sat down with Wood in December for an extensive discussion about how she and her team, who are active managers of a suite of exchange-traded funds, value innovation. In that conversation, Wood called ARK Invest a “deep value manager,” and in her open letter to Musk in 2018 she called Tesla a “deep value stock today.”
More insanity later in the day...
Here we see what is taking place via the S&P futures.
After the Corona Monday (Jan. 27th) reversal a week ago, the casino rallied back in a three wave retracement through last Thursday (Jan. 30) capped off by the WHO upgrading Coronavirus to a global pandemic. Then, another leg down on Friday that stopped at the 50 dma. Followed by this latest steeper yet shorter three wave retracement.
One week to nowhere:
Here is the Nasdaq regular session at Tuesday open:
Tesla is becoming the Nasdaq:
"There’s been a huge rush of new investors buying over $700 via Robinhood in the past day. On Monday, 12,000 Robinhood accounts bought it for the first time. It’s a one-stock mania. Electronic trading systems love to interact with this retail flow. Dollar trading volume in ‘TSLA’ on Monday was a record for an individual stock"
As of 10:45 am Tuesday, Tesla dollar volume exceeds the combined dollar volume of the next ten symbols. Within big cap Tech, only Microsoft is making new all time highs
Today's Tesla moonshot is compliments of Tesla's biggest bull tacking on a ~1,000% price target over yesterday's closing price. In Y2K it was the same thing, Wall Street morons tripping over each other to raise parabolic price targets. It ended in lawsuits.
And of course a super crash.
"MarketWatch sat down with Wood in December for an extensive discussion about how she and her team, who are active managers of a suite of exchange-traded funds, value innovation. In that conversation, Wood called ARK Invest a “deep value manager,” and in her open letter to Musk in 2018 she called Tesla a “deep value stock today.”
More insanity later in the day...