In the past I have come up with article titles and terms like Cyprus, Cyprus… CYPRUS!!!, Fiscal Cliff Kabuki Theater, Armageddon ’08, Full Frontal Inflation ’09 and who knows how many other little words and jingles in order to describe mass mania. I don’t mean to discount the seriousness of what is in play underneath – in my opinion a pathetic system degrading over many years – but I leave it to the Hype Artists to exploit these things by exploiting peoples’ fears.
So to me, “Brexit” is just another hysteria to get worked up about. See, even the media now come up with cute little names for these economic symptoms that routinely pop up in the body that is an aging, possibly dying system.
I will not play that game. In order to keep myself entertained I’ll make up new names and tag lines as symptoms appear, but these are the financial markets. You stay focused and you realize that linear or overly logical thought processes do not work in any short to medium term backdrop.
For example, with VIX spiking and “Brexit!!!” in the headlines, I am prepared to get bullish later in the summer; possibly very bullish. But for now, an oh so cleansing correction would be welcome across asset markets.
I got on this subject because a European subscriber asked me to look at a chart of SES SA (LU0088087324) and while I have no clue what this thing even is, what I saw was a stock that is dropping to strong long-term support. All things being equal and assuming due diligence is done, this is what opportunity looks like.
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