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The completely vapid waste of time and money engaging in an activity to try to desperately purchase a few moments of happiness through material acquisition in opposition to one’s otherwise bankrupt life is soon to be going very much out of style.
When I glanced at HYG just now, I thought it was a data error of some kind. HYG is the boring old corporate high yield bond fund. It just doesn’t move like this. But it’s real. Up 25% in 14 trading days. Thanks to the Fed declaring they are going to pig out on this stuff.
If I were to look at the chart below with no idea what it represented, I would call it a very strong buy. It has a long, well-formed base. It has surging volume in all the right places. It had an enormous breakout and a successful retracement without violating its breakout. Basically, it has everything you’d want to see when you bought a financial instrument.
Whenever I have absolutely nothing pithy to say, I share some germane ETF charts. That’s my gambit tonight: here are a few ETF charts I think are worth a glance. (Follow up note: I began this post with a measure of embarrassment, but God damn, now that I’ve composed it, these charts are good; so I am once again proud).
It just kills me how hardly anyone cares about what the central banks are doing. The federal government promising as many trillions as Larry Fink of Blackrock wants, so that he can buy infinite LQD, should have people rioting in the streets. But, nope. This is the equivalent of the Fed telling Tim Cook he can buy as much AAPL as he wants in the open market with infinite trillions. Just vomit-inducing.
In a similar vein, the Japanese equivalent of our Fed has been making direct purchases of their stock market for years, in order to prop up their zombie economy. I’d say the recent lift is coming close to an end, as we approach the price gap.
The entire thing is a global farce, which 99.9999999% of people are too lazy or ignorant to grasp. It’s pretty sad.
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