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Market Malaise Is Setting In

By Tim KnightStock MarketsFeb 18, 2021 11:05AM ET
www.investing.com/analysis/market-malaise-is-setting-in-200561657
Market Malaise Is Setting In
By Tim Knight   |  Feb 18, 2021 11:05AM ET
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The market is bored with itself. Declining cases. So what? Stimulus cheques on the way? Big deal! It has heard it all at this point. And there’s only so long that all assets can go up just for the sake of going up. Malaise is setting in, and it is reflected in the Nasdaq 100 recently.

Nasdaq 100 Daily Chart.
Nasdaq 100 Daily Chart.

Reality will set in at some point, folks. The fact that MicroStrategy is selling hundreds of millions of dollars of low-interest bonds in exchange for buying a fantasy like Bitcoin is going to be one of the laughingstock points of the history books. But we’ve all been busy going deeper and deeper into this rabbit hole since the year 1987, and particularly since the year 2008, that we don’t even recognize the madness any more.

Of course, the oily teens over at WSB are learning some serious life lessons lately. After GameStop (NYSE:GME) blew up in their face, they pushed all their chips forward on their latest hope, Palantir Technologies (NYSE:PLTR) (which, ironically, is in the business of spying in the same oily teens). Multi-hundred-thousand-dollar short-dated calls were bought by ample individuals on PLTR, hoping for some kind of blowout. Instead, it has lost nearly half its value in a matter of days. It as been a train wreck. But hilarious.

Palantir Technologies Daily Chart.
Palantir Technologies Daily Chart.

Thus, the cathartic CBOE Volatility Index is finally showing a pulse. Yesterday, we were at the lowest levels of an entire year. Crib death. Now, the eyelids are fluttering.

VIX Daily Chart.
VIX Daily Chart.

My entire options account is devoted to nine puts, all of them with many months left, with the one exception being Peloton (NASDAQ:PTON).

Market Malaise Is Setting In
 

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Market Malaise Is Setting In

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Comments (7)
Tommy Garuccio
Tommy Garuccio Feb 19, 2021 7:57AM ET
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This guy sounds like Peter Schiff, ripping on bitcoin. Youll be the laughingstock, chief. Considering long/short arbitrage on bitcoin is letting investors capture a 4% spread right now. Why would ANYONE hold fixed income right now? Calling a 900b asset class a joke? You’re a joke
Zalmoxis Bogdan
Zalmoxis Bogdan Feb 19, 2021 3:21AM ET
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I remember your 5 bullish stock article. All are down. You doubted bitcoin too yet it's at 52k ATH You don't seem too good at your job. What is the point of your articles?
Sevantilal Patel
Sevantilal Patel Feb 19, 2021 2:32AM ET
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I could not agree more. greed is getting grease.
kok teong tan
kok teong tan Feb 19, 2021 1:52AM ET
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we R in a casino -- but this time, if U win is USD1 but if U lost, it would be USD10. So would U want to play ??. The market has been going up & up without logical reasoning except more Fed. Printed paper money
Brandon Bazzoli
Brandon Bazzoli Feb 19, 2021 12:04AM ET
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This guy has been wrong all year and is now trying to claim a victory? I understand how they publish this guy. It’s comical.
TL Chan
TL Chan Feb 18, 2021 11:52PM ET
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It is confusing ! Analysts said the US bond is in super bubble, and yet as more stimulus coming, dollar dropping, US TR yield rising, people buying more higher rate bonds, and sell inflation sensitive stocks. Printed money gone to higher rate bonds for a while but eventually flow to bitcoin, EM and other commodities ! Stock falls followed by bonds finally!
Josh Plouffe
Josh Plouffe Feb 18, 2021 9:50PM ET
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Haha I dont think weve seen the last of the bull run yet. Lets see what next week brings.
 
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