Bad Santa Welcomes You to the (trading) End of 2021

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Hurray!

Why? The market rallied in the end when the shorts all covered the positions on their ETF known as SHIT (Stocks Honked for Investing Television). The meme stocks, the garbage crashing EV companies, the SPAC nonsense, and all kinds of insane over leveraged companies which are going to crush the rookies and inexperienced.

Meanwhile, Used Car Salesman Television continues to pump the nonsense sort of like an old movie:

Yeah, but of course us old guys who have been there, done that have no clue, right?

Tank it all to 0 pic.twitter.com/PojwU8BYhc
— TikTok Investors (@TikTokInvestors) December 16, 2021

The last time I saw this, there were people doing the Memphis lawyer thing with the garden hose from the exhaust into the driver’s window with sleeping pills, painkillers, and whiskey. But I digress.

So last week culminated in a super high volume distribution day, yes, even in the NASDAQ, where large institutions liquidated their holdings. This is what it looked like:

Technically, that’s an ugly chart. It took a while for the market in the big caps (Dow Jones) to dip, but when it did, it did so violently this week and with volume. The shorts bailed last week, the longs this week.

As for the S&P 500:

A last minute save in the overlapping tech stocks from the NASDAQ kept the S&P 500 from cratering below the 50 day moving average, but the majority of the index was “bleh” to sum it up. For a year end close on quad-witching options expiration, this was not a good sign.

Lastly the NASDAQ:

A train wreck.

And in 2022 it will get worse.

The question the inexperienced might ask is why did I call this past Friday the last trading day of the year. In all seriousness, it was. Unless there is an algo triggered sell off like December 2019 on Fed Poo-Bah Powell making another blunder or a war breaking out, conditions should stabilize with some low volume, high beta rallies into year end.

Then 2022.

Where everyone gets toasted by some strange belief that socialism works.

Bring your marshmallows as this is going to be one hot, nasty fire.

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