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When You See Stories Like This, the Market Top is In

by John Galt September 16, 2016 19:50 ET When you see stories like this one (via Business Insider): Yeah, it usually means the market top is in. When the pie in the sky insanity after years of predicting market crashes and booms winds down to the end of the a credit and business cycle, the insane stories start to appear attributing rallies to elections, Issac Newton, Trump’s belly button lint, or the length and duration of Hillary Clinton’s Parkinson seizures. The truth sucks but God forbid the pump and dumpers tell…


The Bull Market is Now Officially Over

by John Galt September 10, 2016 22:20 ET Before I go into any great details as to why I think this horrid bull market is over, albeit horrid only because it is Federal Reserve purchased and promoted bull, I wish to review the markets at the end of trading this past Friday, September 9 (courtesy of the Wall Street Journal). How bad was it really? -NYSE down ratio of 13:1 on 4.3 billion shares -Nasdaq down radio 6:1 on 2.18 billion shares meaning it could have been worse -Dow Transports down…


No Matter What Janet Yellen Says, She Will Trigger this Outcome

by John Galt August 26, 2016 05:15 ET Maximum pain is on the way. What is about to hit could have been avoided, but knowing the pragmatic nature of central bankers they will simply state what they think the markets and world wants to hear. This time it is different. Between what she says at Jackson Hole today, which will be released at 10 a.m. ET, and the news slowly leaking out of Europe, by the time we get to the October surprise for the markets, all hell will be breaking…


6 Years Later the PIIGS and Europe Still Wallow in Bear Markets

by John Galt July 31, 2016 10:00 ET Everything is great. All is quiet on the Western Front, Eastern Front, and Main Street economies with sluggish growth but new all time highs in key equity markets promoted for television purposes. The problems in Portugal, Ireland, Italy, Greece, and Spain are solved because CNBCCNNFBNFNCBBG does not want to cover them on a daily basis. Hence it’s all awesome: Right? Despite the fact that the over indebted United States has managed to hyperinflate its way into a new all time high in equity…


The Bail-In Bankster Model of Cyprus Results: Cyprus Stock Market down 99.2%

by John Galt July 8, 2016 23:00 ET On January 1, 2016 the new bail-in rules became the rule of law for the member states of the European Union. Hugo Dixon penned a column for Reuters on January 4th which revealed how tough the terms were for the bail-in protocol (excerpted): The European Union entered a brave new world of bank “bail-ins” at the start of 2016. Europe has wasted so much taxpayers’ money on bailing out bust banks in recent years that it is right to try to get investors…


The Shellacking Continues as Britain is Just the Tip of the Real Estate Iceberg

by John Galt July 5, 2016 20:50 ET The absolutely bull whipping of investors in foreign real estate continued today as 2 more property funds in the United Kingdom froze redemptions after Standard Life started the ball rolling on July 4th. M&G became the third company to shut down redemptions from its property fund as it stated (via Bloomberg): “Investor redemptions in the fund have risen markedly because of the high levels of uncertainty in the U.K. commercial property market since the outcome of the European Union referendum. Redemptions have now…


Brexit is the Bear Stearns/Lehman Bros. Moment

by John Galt July 4, 2016 17:40 ET The United States equity and bond markets resume trading on Tuesday July 5th, but whoa be it for those who are unprepared. Tonight the breaking news in the English media indicates that Brexit is not only a Bear Stearns v2.0 Moment as ZeroHedge puts it, but in fact could be a lot worse. The details have made it to the front pages of the U.K. press, starting with the Guardian: Standard Life shuts property fund amid rush of Brexit withdrawals Excerpted: Investors in…


RBS and Barclay’s Bank Trading Temporarily Halted due to Price Declines

by John Galt June 27, 2016 05:15 ET In what can only be called another amazing morning, the news flow on equities continues to demonstrate that the instability is a long way from over in world equity markets. With the 10 year British Gilt breaking the 1.00% yield mark for the first time in history and the sell off continuing, albeit at a much milder pace, the banking stocks of the U.K. are getting whacked again and this news did not help (via Bloomberg-TV): Trading in Royal Bank of Scotland and…


06.27 Market Deathburger: The EuroCarnage Continues after Brexit

by John Galt June 26, 2 016 15:30 ET I shall keep this as a running update as trading and markets open. Needless to say, currency markets in Asia have opened and the carnage continues unabated so look for Bank of Japan and Swiss intervention soon enough. 05:00 ET – While equity futures are not indicating panic, the bond market is screaming a move into safety. This could be another long day and the key level to watch on the S&P 500 is 2020 as a violation of that figure at…


Spainaggedon Election: Pro-EU Mainstream Parties INCREASE Seats but no Clear Majority

by John Galt June 26, 2016 08:30 ET Sometimes the bull gets you, sometimes you get to sprinkle some A-1 Steak Sauce on him when he’s medium rare. Today we find out if Spanish voters are inspired by the Brexit vote to take a strong stand against the European Union’s insane bankster inspired austerity programs which are running in parallel to the banking bailout which has done nothing to help the average Spanish citizen to improve their standard of living in over a decade. Sound familiar? I shall try to keep…


Today Brexit, Sunday Spainaggedon

by John Galt June 24, 2016 21:30 ET The political and financial elites never learn their lesson. Just twenty-four hours ago Nigel Farage of UKIP was proclaiming a narrow defeat for the “leave” faction in the Brexit election only to be surprised himself some four hours later by the overwhelming returns showing the British citizenry rejecting the bureaucratic lies and nightmare known as the European Union. Fast forward to this morning where Spain’s center-right Prime Minister Rajoy decided to act like Prime Minister David Cameron with his threats of the consequences…



06.24 US MARKET DEATHBURGER: Black Friday Brexit Burgers Now Being Served

by John Galt June 24, 2016 02:00 ET I have never been so happy to be so wrong in all my life. I honest to God did not think my limey crazy assed brethren had the jewels to vote for Brexit, but they did. If TPTB do not stop them through a technicality or loophole in the Parliament, then this move is nothing more than a vindication of the insanity we are witnessing in American politics where an unconvicted felon is allowed to run against a reality TV show millionaire/billionaire. Thus…


06.23 BREXIT Updates: The End of Great Britain, the Start of French Britain

by John Galt June 23, 2018 18:00 ET I remember reflecting on history at one time where I said if the United Kingdom ever succumbs to the evil lure of globalism and refuses to act proud and independent, then the Western world may well be lost. It would appear, barring a miracle, that the news will reflect a victory for “remain” and the British empire which was once a proud lion, will instead join the world community of cowardly lions which submit to every whim of the global banking syndicates. Of…


German 10 Yr Bund Yield Goes Negative for First Time in History

by John Galt June 14, 2016 04:50 ET Just when anyone in the investing world thought it couldn’t get any more nuts than it has been, German government bonds send the most alarming signal ever with their 10 year Bund yield dropping into negative territory for the first time in history: Meanwhile, US 10 Year Treasuries are now have a yield with a 1.5 handle this morning: If the US 10 year breaks below 1.50% that usually correlates with a stock market some 10-15% below current levels. This really ties the…



Ambrose Evans-Pritchard: Why I am voting to leave the EU

by John Galt June 12, 2016 20:10 ET In what can only be called a stunning editorial in tonight’s edition of the UK Telegraph, Ambrose Evans-Pritchard hammers it home with a stunning rebuke of the pro-European Union forces inside the United Kingdom with this editorial: Brexit vote is about the supremacy of Parliament and nothing else: Why I am voting to leave the EU Holy smokes! This is somewhat earth shattering as the conventional economic thought inside England was to remain and muddle through with a partnership both with France and…


Greece Reminds Us: The PIIGS Crisis Is Not Dead

by John Galt June 2, 2016 20:45 ET While America slumbers in its own porkfest of Federal Reserve provided phony money, the European Union is attempting in a very desperate manner to bury the pork vampire from hell formerly known as the “PIIGS.” Unfortunately for Brussels, this fat little piggy just will not die. From the Greek newspaper, Ekathimerini: Greek bond yields climb Greek government bond yields rose on Thursday after the European Central Bank said it would take no decision on whether to reinstate a cheap funding lifeline to Athens…


05.23 Final Austrian Election Results: Austria Veers HARD Left to Green Party Candidate

by John Galt May 23, 2016 20:20 ET In what could only be called the even more Marxist equivalent of Bernie Sanders, Alexander Van der Bellen the candidate supported by the Green Party, won the final tally in the Austrian Presidential elections today. Even though it was only by about 31,000 votes it is a clear indication that the globalist efforts undertaken by the European Central Bank and associated politicians who wish to keep their grip on power over the continent was indeed a success. With Austria shifting hard to the…


05.22 BREAKING NEWS: Cyprus Shifts Right in Parliamentary Elections

by John Galt May 22, 2016 19:30 ET As discussed earlier in the posting about the Austrian elections, it would appear that Cyprus has also started to divorce itself slightly from the love affair with Brussels and the European Union globalist cabal. From Reuters: Cyprus parliamentary vote puts far-right in parliament From the link above: Cyprus’s ruling conservatives took the lead in Sunday’s general election, results showed, while a far-right party won its first seats in the legislature amid voter disillusionment after a 2013 financial meltdown. With the voting tally at…


05.22 Austrian Presidential Elections Results: Shift to the Right or More Globalism?

by John Galt May 22, 2016 12:15 ET For the average American the question is “why should I care?” If you’re an investor and think that the globalist model is sufficient regardless of the destruction of national sovereignty and personal liberty then you will favor the election of the Green Party (leftist) candidate in Austria, Alexander Van der Bellen. However, if borders and national economic integrity are your concerns then the election of Norbert Hofer may well be the political and economic earthquake you’re looking for. Van der Bellen is essentially…


04.27 23:05 ET: Bank of Japan Screws Yellen, TAKES NO ACTION!

by John Galt April 27, 2016 23:05 ET Japan has elected to maintain its current levels of funding with rates and stimulus unchanged. Kuroda basically just told Janet Yellen to go fawk herself. The Japanese Yen just soared against the U.S. Dollar on the announcement (screenshot via BloombergTV): The candlestick on the 1 minute chart via NetDania was even more impressive: Meanwhile in the U.S., S&P and Dow futures, well, shit the bed on the announcement: Everyone knew something was up when Kuroda delayed the announcement but to see this type…


The Federal Reserve is Being Held Hostage by China

by John Galt March 17, 2015 05:15 ET Please not the following from the Federal Reserve’s FOMC statement: Information received since the Federal Open Market Committee met in January suggests that economic activity has been expanding at a moderate pace despite the global economic and financial developments of recent months. Household spending has been increasing at a moderate rate, and the housing sector has improved further; however, business fixed investment and net exports have been soft. A range of recent indicators, including strong job gains, points to additional strengthening of the…


02.27 BREAKING NEWS: Irish Pro-Austerity Government Coalition Falls in Shocking Election Defeat

by John Galt February 27, 2016 18:00 ET The implications of the message from the Irish people is quite clear and unmistakable: From AFP (via Yahoo): Irish government concedes election defeat <excerpted> Irish prime minister Enda Kenny conceded defeat on Saturday following elections that saw the governing coalition punished by voters weary of austerity, leaving the eurozone country in political limbo with no clear winner. “Clearly the government of Fine Gael and Labour are not going to be returned to office,” Kenny, the leader of the centre-right Fine Gael party, told…



02.11 JAPANESE YEN Deathburger Mega-Alert: 300 pt Move to 112 in USD/JPY!

by John Galt February 10, 2016 20:20 ET Holy Flirkingshmidt! UPDATE 21:00 ET: And whatever it is that has gone kaboom in the night is reverberating into Hong Kong trading as the Hang Seng opened down over 700 points (4%+) and is still trading close to the lows in the first 1/2 hour of trading(chart via YahooFinance): The opening 1 minute of trading appeared to be the most harrowing! NetDania has some graphic charts (as in Holy TRUMPword) which shows the mind-boggling rise of the Japanese Yen versus the US Dollar…


There is no Dead Cat Bear Bounce of Consequence Forthcoming

by John Galt February 8, 2016 21:30 ET The financial media and prime time stock pumpers will try to deceive everyone into thinking that again, one more time,  that this is nothing more than a corrective phase in the midst of a long term bull market rally. Woe unto the fool who buys that nonsense. Instead of chart after chart illustrating how bad the action has been in the past 40 days, here is a great summary via CNBC’s resident guest technician about trend violations on Friday February 5th’s Option Actions…


01.11 Oh No Not Again Market DEATBURGER Watch: Paging Janet Yellen, Economy Crapping out on Line 3

by John Galt January 10, 2016 18:50 ET So it’s Sunday night once again. My DFS teams all went to hell in a hand basket yesterday because players with concussions, blown up knees and ankles, and torn groin muscles could not gut it out. I mean seriously J.J. Watt, couldn’t you tough it out, you won’t need your nuts until your career is over anyways. But I digress. The U.S. Futures had a warning sign before they opened at 18:00 ET and that was simple, to to point and a stark,…


The Dollar Surges, Gold is Broken, and the Fed is Screwed

by John Galt November 30, 2015 20:20 ET Let’s start tonight’s rant with a musical memory from waaaaaayyyy back in those good old days almost identical to the time when the Federal Reserve controlled all the gold and thought they know what the hell they were doing: Nothing like the top song from 1937, “Sing, Sing, Sing” by Benny Goodman. Now go to the mezzanine and pick up your favorite pack of Lucky Strikes from the sexy girl near the entrance. Meanwhile, as the Federal Reserve careens over the cliff, just…


11.15-11.16 Deathcrepe Asia, European, US Marketwatch: Nous Somme Français

by John Galt November 15, 2015 10:15 ET 11.15 19:05 ET – Japan enters into recession in Q3. Nikkei 225 now down 1.71% but don’t worry, be happy! 11.15 18:05 ET – Dow Futures open up – 129. Not that bad, not that good. But the night is young…. ———————————————————————— This will be an open thread, updated throughout the afternoon and evening to cover the ongoing market turmoil, which just became more tumultuous, as the world reacts to the cratering global economy and the upcoming start to World War III which…


Meanwhile, back in the “Solved” Nation of Greece

by John Galt November 5, 2015 20:10 ET The Athens Stock Exchange crashed again and no one has noticed. After the apparently rigged elections earlier this year the smart money began liquidating it’s positions in Greece and taking their Euros back home to Berlin and Brussels as the economy is now imploding further as the financial system starts to crater worse than when the crisis began.  The chart above reflects the Athens SE getting ready to retest it’s 1990 lows; not recent lows, it’s 1990 LOWS! From the International Business Times…


The Federal Reserve Raises the Stakes in the Global Currency War

by John Galt September 17, 2015 20:30 ET Today’s Federal Reserve non-action was nothing more than another throwing down of the gauntlet to Japan and the European Central Bank: We will stay in this world currency conflict and outlast all of you to remain the last viable bankster standing. Why is this relevant? ZeroHedge touched on this tonight in an article he published titled “This Is What Yellen Said About Negative Rates Coming To The US” where someone within the Fed actually indicated a possible NIRP (Negative Interest Rate Policy) in…


08.24 Asian, Europe, US Deathburger Marketwatch: MOAD or a Grilled Cheese Sandwich?

by John Galt August 23, 2015 21:45 ET UPDATED 22:10 ET: Just because: Ouch. Meanwhile in Singapore, down another 2.5% to start the day: UPDATED 21:50 ET: It’s officially a bloodbath. Brent North Sea Crude has broken $45 per bbl for the first time since 2009: The Shanghai SSE is down over 5% on the open: Hong Kong Hang Seng Index down almost 4%: And I have not even gotten to the secondary markets yet like Thailand, Vietnam, etc. Monday could still well be Bloody Monday on Wall Street. Stay tuned!…


08.21 15:45 ET US Markets Update: It’s, It’s, a Ballroom Blitz

by John Galt August 21, 2015 15: 45 ET Most of you are too young to remember this awesome tune: Well, maybe not that awesome but the markets now know what it feels like again to get hit by the 2008 of a full blown NFL style blitz again. The S&P 500 is well below its 200 DMA and tanking below psychological support at 2000:   Oops, wrong chart. Here we go (prices delayed 15 mins, via YahooFinance): Next stop on the downside should be around 1830-1835. Another indication of the…


08.21 ASIAN, EURO AND U.S. Deathburger Marketwatch: Let’s Eat!

by John Galt August 20, 2015 21:25 ET Yeah, tonight is in a word, er, BRUTAL in Asian markets: Japan: Australia: Singapore: Meanwhile in US futures markets: Yeah, gold is still going nuts…   We’ll see how the Chinese PPT behaves tonight in about 20 minutes. They had best buy every damned thing in sight or we are going to witness one nasty day on Wall Street and in Europe in about 12 hours… UPDATE 21:32 ET – NOT A GOOD SIGN THUS FAR – CHINA DOWN ALMOST 1.5%!!! Shanghai SSE…


Another non-Chinese Oops: Germany Raises Objections to the Greek Bailout

by John Galt August 12, 2015 20: 35 ET Good thing the Euro-crisis is resolved, right? Uh, no. From the Financial Times earlier this evening: Germany criticised an outline deal between Athens and its bailout monitors as insufficient, upsetting eurozone attempts to smooth the way to a new €85bn rescue for Greece. Germany’s finance ministry outlined its objections in a paper circulated to its eurozone counterparts just hours before the Greek parliament was due to debate on Wednesday the painful austerity and reform package that had been reluctantly accepted by the…



Greek Stock Exchange is Finally Open Promptly Crashes over 20%

by John Galt August 3, 2015 05:00 ET Now this is how you crash when a stock market opens: Since the open there has been some dead gyro bounce as some crazy fools are trying to buy some issues in a totally bankrupt nation and illiquid stock market  but reality is that this will be without a doubt the most volatile market in the world for some time. Of course they still have time to adopt the ECB/PBOC/Fed model of rigging their markets completely so the day could still end up…


08.03 Here we Go Again: August Opens with Shanghai and Asia Down, Down, Down

by John Galt August 2, 2015 22:00 ET Here we go again gang so buckle up, it’s going to be a wild month… The Nikkei 225 is crawling down the ladder, as of this posting down about 3/4 of a percent (all charts via YahooFinance): The Shanghai SSE opens down a hard 1.4% and apparently ready to move even lower if the Beijing government doesn’t start buying more stocks soon: Hong Kong’s Hang Seng opens down 1.4% plus also: Lastly, and not a sideshow, Taiwan opens down almost 2%: In the…


Signs, Signs, Everywhere a Sign, Economic Signs, and More Bad Signs

by John Galt August 2, 2015 13:30 ET   And not the kind of signs in the headlines one wants to see if they think the economy is going stay “strong” for much longer. For example, on Friday the headlines directly contradicted the triple washed super duper electrochemically re-calculated GDP figures from the previous day: US wage growth falls to record-slow pace in Q2 Consumer sentiment hits lowest since May Of course the used car salespeople masquerading as journalists on the financial broadcast networks don’t want you to see this story…


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