Aug

16

Dracula's castle in TransylvaniaI know we don't trade off feel around here… but this is creepy. if I close the blinds it feels like a dark cold, full moon night with the backdrop of Frankenstein's castle in Transylvania. I'd feel a lot more comfortable giving it the old full swing for fences in stocks here if the freaking bonds were not up more than a full point over open prices.

I see the Dow 30 yields more than 10 year. So I see the DOW techies INTC under 20 and CSCO post earnings lows rally the best, but their cohorts are being dragged along at a pace that feels like a retreat slow and steady vs. a hasty defense.

It feels like Kobar towers in '91 when a 500 pounder went off in my AO and we saw the shock wave, dawned our gas masks, and you could hear a pin drop. Total silence.Yet we all know full well the war will be won, and if bonds drop big we will be trading 1100 before I can say cease fire… but I dunno if this is just the start of the air war and the G day or ground war will be in 6 weeks with a full armored assault that lasts 100 hours bonds at month lows and stocks at highs.

Seemingly the same propaganda on defensive positions in markets– a well dug in enemy, tank traps, rings of fire, the mother of all battles weeks later an an entire army destroyed in 100 hours… "if mountains and oceans can be over come anything built by man can be over come… defensive positions are monuments of the stupidity of mankind" –Patton movie

Vince Fulco comments:

Right on, brother… but what fake action will the bots necessarily create before a meaningful base is found…The subtitle to Blade Runner resonates here, "Do Androids Dream of Electric Sheep?" 


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