Document Study


But I don’t get to watch much television. Primarily because of documents. I’m reading documents. A lot.

— Donald Trump,  ca. November

On Monday morning, it kinda seems like maybe the President eschewed his traditional “document study” time in favor of a heavy dose of Fox News, because what emanated from his Twitter feed starting promptly at 7:02 ET and continuing at regular intervals for the next three hours was right out of the Alex Jones/right wing conspiracy playbook.

There was Mexico, the “caravans”, the FBI, the DoJ, NAFTA, and of course Amazon.

Calling it “unhinged” would be to grossly understate the case.

Another horrific day for Amazon thanks to the President’s tweets – this was the fourth time this year the shares have fallen 4% or more:

Amazon

Stocks plunged across the board – the Nasdaq is now red for year:

Nasdaq

Worst start to a Q2 in 89 years:

StocksDepression

It looks like the 200-DMA might be out of the running to replace Jerome Powell:

Stocks

New fed chair is fired. S&P 500 FALLS BELOW 200 DAY MOVING AVERAGE

— Walter White (@heisenbergrpt) April 2, 2018

VIX hit a 25 handle for the first time since March 23:

VIX

Big-cap tech still stretched valuation wise compared to the broader market:

Nasdaq 100 forward P/E vs S&P 500 would seem to imply the big guns won’t be the first to get valuation support. pic.twitter.com/HdU0aR6IOK

— Luke Kawa (@LJKawa) April 2, 2018

The Amazon “VIX” is spiking:

VXAMZN

Specs caught offsides (largest net long in five years based on latest CFTC data):

Specs

USDJPY dove in the risk-off move, reversing some of last week’s rally:

USDJPY

Remember when everyone was worried about 3% on 10s? Me neither…

USTs

Intel plunged on reports Apple is set to use their own chips in Macs (Stifel was out defending the shares). At one point, INTC was down 9%, its worst intraday loss in more than two years:

Reviews

  • Total Score 0%
User rating: 0.00% ( 0
votes )



Leave a Reply

Your email address will not be published. Required fields are marked *