Peak Hysteria

I am pretty sure we have reached the peak hysteria moment, with Basketball and Hockey shut down, the kids all sent home from school and supermarkets looking like a battle of the survivalists (or Guy’s Grocery Games gone mad). The Corona effing virus. Welcome to the fear event that is surpassing its reality and taking on a life of its own. Last I’ve seen China is back online and has provided at least a rough model for the rest of the world to get its shit together.

Okay, I am a million miles from expert on it but over here you have Martin Armstrong blaming the democrats for amping the crisis into a ‘remove Trump’ opportunity and over there you have the media cycle whirring 24/7 to bring us up to speed with every little factoid as it becomes available (not to mention harvesting the shit out of our eyeballs and ear holes).

On top of it all we had a disturbing look at a president outside of his comfort zone – which is of course making up funny nicknames for democrat candidates (which crack me up, actually), complaining about the fake news (while citing the other fake news as legit), pumping the stock market (oh, wait…) and pumping his candidacy – making people downright nervous with his own lack of ease. Man, that was uncomfortable.

I think that Treasury bonds are going to get cooked, and insofar as gold has gotten wrapped up in this, well, it’s one of my concerns along with the Commitments of Traders on the bull trending monetary metal (it did not go parabolic like bonds and while gold bears admonish that the metal failed to make significant new highs amid the panic, it is actually a good thing that hysteria stink is not fully in it, like with T bonds).

Stocks? I am not a bear. I am not particularly a bull either. Yet. I am a cash monger. I fear for the bears that this event may have actually fucked up a perfectly good upside mania that was due to blow off and blow out sometime in 2020. Now instead we are testing big picture support areas that always were meant to be tested. As for today’s bounce, if you’re a gung ho bear I guess you’re going to short it.

But what do I know? I am trying my best to navigate this thing with balance and perspective, just like you. Anyway…

Peak hysteria? VIX (daily) sure thinks so.

vix

VIX (weekly) does too.

vix

And VIX (monthly) has now just about put in the Armageddon ’08 highs.

vix

And then of course…

(you can click the graphic to go to MarketWatch and get yourself fully topped off on the hysterics if you’re not already).

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