
DB: The Great Counter-Party Unwind Cometh?
DB – the German-traded shares – now sit at 25-yr support with this morning’s ~5% decline baked into the cake. As the health of this behemoth appears increasingly tenuous, we must remind ourselves that DB holds anywhere from ~$40-$50 trillion…

Incorporating Tactical Precision into our Big-Picture Silver Work
I’ve recently written extensively about why I believe silver is poised for a window of out-sized upside this year, if even it comes in a brief window of time like 1987’s 65% rally, which occurred in two months. This thesis is largely…

Japan Chart Dump
I continue to believe, as crazy as it sounds, that the Nikkei might round-trip its 30-yr decline from 40K in 1989 by getting back to that level either this or next year. I’ve outlined the case for this scenario two…

Long Rates, Short Equities?
One of the worst patterns one can ever find is the kind seen on the USD in the late 90s… Three distinct pushes higher over the course of a few years with declining RSI into a H&S type of top…...

Additional Evidence Suggesting a Historic Top in Place for Defense Stocks
In March I began making the case that defense stocks were in the process of putting an important top in place, which you can read about here. However, at that time I don’t think I fully appreciated the exact nature…...

Chart Dump
Lots to look at here. I’m by no means advocating positions in all of these, I just find the charts interesting. That said, there are many I would want to own. Some are far more speculative and less liquid than…

Multi-Year Cyclical Peak for EM Equities Likely in Place
Before we dig into this post’s declarative title, let’s revisit the genesis EM work that got us to this point today. Specifically, I mean the 1/2/17 post that proclaimed EM equities, though likely mired in an ongoing secular bear, were nonetheless about…...

Oilfield Services Attractive on Numerous Relative Fronts
One could spend a few hours cycling through charts of various US equity industries, both on an absolute and relative basis vs. the SPX, and find very little to get excited about. They simply all look the same – nearly…...

Pinpointing a Bottom in Bitcoin
With my oft-repeated suggestion that XBT will reach $1 million in 2018 looking more comical by the day, I thought it appropriate to revisit the asset with a focus not on trying to predict upside, but on attempting to pinpoint a near-term…...