This article helped me understand a little as to why the market is rallying. Wish I knew this before buying puts on SPY – “Amazon’s $1.2 trillion market value, in fact, now accounts for more than 40% of the entire value of the S&P 500 consumer-discretionary sector.”

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The S&P 500 is just 16% off its all-time high and up 29% off its low a month ago despite a pandemic that’s cost 26 million jobs.  But stocks don’t appear to be handicapping a quick resurgence in the economy when looking at the weak performance of “early cycle” groups such as autos, banks, consumer … Read more

Markets are engaged in a key battle between the worst evolving fundamental picture in our lifetimes on the one hand, and the largest set of liquidity injections in history.

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by northmantrader New bull market? No. Unproven. New lows to come or a retest? No. Unproven. Markets are engaged in a key battle between the worst evolving fundamental picture in our lifetimes on the one hand, and the largest set of liquidity injections in history. A looming $3.7 trillion deficit, a Fed balance sheets on a … Read more

Experts Worry ‘Quarantine Fatigue’ Starting… CALIFORNIA: Tens of Thousands Defy Newsom’s Authoritarian Lockdown Order and Flock to SoCal Beaches

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Researchers tracking smartphone data say they recently made a disturbing discovery: For the first time since states began implementing stay-at-home orders in mid-March to limit the spread of the novel coronavirus, Americans are staying home less. The nationwide shift during the week of April 13 was relatively slight. However, any loss of momentum, particularly when … Read more

Rick Ackerman – We Have a Deflationary Abyss to Cross. Interesting Depression & Period of Living Without

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Financial writer and professional trader Rick Ackerman says he likes gold because even in deflation, debt default and destruction, “Gold will hold its value. . . . Gold is catching on now because of uncertainty and not inflation—yet.” In closing, Ackerman says, “I still believe we are going to have a deflationary abyss to cross … Read more

Democratic Party operatives with bylines aren’t happy that the WFB did actual journalism

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MAN WHO DIED INGESTING FISH TANK CLEANER REMEMBERED AS INTELLIGENT, LEVELHEADED ENGINEER. Yes, the headline is in the typical trolling Washington Free Beacon style. But once you get past it: “What bothers me about this is that Gary was a very intelligent man, a retired [mechanical] engineer who designed systems for John Deere in Waterloo, Iowa, and … Read more

STAY TUNED: Numerous U.S. Media Outlets Reporting that Kim Jong Un is in ‘Vegetative’ State.

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via redstate TMZ is going with the headline, “N. Korea Dictator Kim Jong-un Reportedly Dead After Botched Heart Surgery.” But as NRO’s Dan McLaughlin tweets, “TMZ is rarely wrong about these things, but my guess is that its sources in Pyongyang are not on par with its sources in the LAPD.” UPDATE (FROM GLENN): Is he alive? Is he dead? … Read more

Went to Walmart In Georgia today!

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Haven’t been to Walmart in 6 weeks. Had to get a few things as online shipping is taking forever. Put on a mask and headed in. Oh shit! First of all, there was NO difference today compared to any other Saturday (virus free). The place was packed. I would say half were wearing masks. Walmart … Read more

High yield bonds continue to sell off. The stock market ignored it all last week. A big move in SPY is coming.

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https://twitter.com/hks55/status/1254139750413369344 Have a great weekend! Inside week for $SPX which means a move is coming. Key lvls next week: 2870 needs to clear which targets the 200dma zone at 2970-3010. Any new high should be the last before a healthy pullback & short.For bears: 2630 is the gateway to new lows if bulls fail pic.twitter.com/4XWaQdP8dp … Read more

FT: Investors baffled by soaring stocks in ‘monster’ depression

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https://www.ft.com/content/10d24f35-dee9-4991-a7bd-51be9097a100 While the headline is somewhat exaggerated, the premise is correct. Here the whole article: The divergence between the flying stock market and the dying economy is so extreme it is leaving many analysts scrambling for explanations. The recent string of economic data releases reflecting life under global coronavirus lockdowns has been even grimmer than expected, … Read more

Equities have major headwinds now

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https://twitter.com/hks55/status/1254165889076903936 Cycles Matter. https://t.co/vZZjhhuQ0r — Paranoid Bull (@paranoidbull) April 25, 2020 Dollar shortage warning. New lows for EM currencies with $BRL being decimated. Blood in the streets?Not even close. Wall Street still estimates a 20+% appreciation in $BRL and further rate cuts by end of 2021. Good luck with that. pic.twitter.com/qrKJAJQ7OM — Otavio (Tavi) Costa … Read more