The Great Depression in fear is over. Long live the fearful!

I've been on chart topping watch for months now but I think we finally found it.  The bad earnings by JPM today should be a warning for the entire markets.  Of course, the really puffy stocks like FB and PCLN and CMG have gotten hammered just like I wrote that they would here and here and here.  I nailed the peak on CMG to with 8 or  9 days.  Believe me, the collapse has just begun for these debt Ponzi Pumped Players.  Do not worry that you missed the shorting train!  The the first 5 waves down are nearly complete so go ahead and let them a-b-c to the prior 4th, the 38.2% fib, and perhaps the 50% fib in some cases but expect the corrections to be short.  Expect 38.2 right now but always rely on the count first and foremost.

Again, you are not too late to the shorting party!  In fact, if you are an options player, the Ponzi Put Party is about to go into high gear.  Put prices are way, way too low right now.  Puts are supposed to be hedges against market collapse.  In other words, like insurance policies.  But nobody has been paying the premiums because of the so called Bernanke Put which is just the market's way of saying the Bernanke promised to bail the markets out no matter what.  The mechanism of the bail out is to buy "assets" that nobody else wants and to put them on the Fed's balance sheet.  In order to do this, they printed up money from thin air and gave it to the banks in return for "AAA debt instruments".  Where have we heard this one before?  There is no such thing as AAA when the collapse hits.  People will walk away from their homes as soon as they go underwater again and the Fed will be left holding about 4+ trillion of crap assets.  The fed knows this but cannot seem to find any buyers (at least not at the stupid Ponzi Prices that the fed paid).  As soon as the fed goes to sell anything, the prices will plummet and then we will see the deflation occur that has been hidden by all of the fed's interventions to date.  I repeat, con man Bernanke fixed nothing. He just hid the problems like Madoff did.  They will come streaming out within 1 year IMO.  It will not be pretty.


Everyone still believes in the Bernanke put even those its namesake is gone and bat faced little girl Yellen is simply not equipped to fight off the hungry lions that are about to tear Little Miss Elitist Bureaucrat a brand new hole.  Her communications last week were not well thought out and were broadly reported as having "confused the market".

Now hear this because it is vitally important to your financial well being:  these guys are running a confidence game.  Con men need to be bright eyed, bold faced and exactly on target with their sales pitch.  The need to be quick witted, and Johnny on the spot.  They cannot stutter, they cannot look funny, they cannot look confused and the certainly cannot say confusing things.  They cannot make statements and then retract them later on or tell the market to ignore some bit of data that it just released (as Yellen just did).  It just doesn't work like that!!  Most of the market pros know exactly what has been going on: a debt pumped market as has never been seen before in the history of man.  They know it is only a matter of time before the people get wise.  In order to keep the people from waking up, the fed chief has to look them in the eye and say "sllleeeeep, little fool, sleeeepppp".  It's called Fed Speak and it is a real technology, technology of "purposeful obfuscation".  This is not a conspiracy theory, it's an outright giggly admission by the con man in chief of years past (Greenspan).  This is real.

Yellen is not capable of effective Fed Speak.  When she tries, it does not work as it did for Greeny and Bernanke.  She just came into the game too late is all.  People's minds cannot wrap around her being the most powerful person in the world.  She was done before she started as you can see by these pictures mocking her all the way back in February.  You cannot run a con if the con man is not credible and Yellen is already considered a walking, talking joke.  I'm telling you folks, she is the designated disposable Fed chairman.  What con men do not fully realize is that the entire Federal Reserve will be effectively dismantled before the collapse is complete this time.  Yes you heard me right.  The chart breakdown of this Elliott wave degree leaves little other possible outcome.  Again, seems crazy to say this right now with the Dow still above 16000 but the charts do not lie.

The fact is being picked up by the TVIX chart which, as said, is going to skyrocket when this breakdown picks up steam.  It looks to me like the bottom is now in for TVIX.  All I can say is buy the dip because this will be trading at $20 or more before mid year.  The red 5th wave looks exactly like what is going on in metals and miners (M+M) right now.  I suspect it will play out the same way.  M+M are still trading in sympathy with the broader markets. I think the bottoming of metals is no more than 4-5 weeks behind the topping of the markets and I think the markets have topped now.

If you make a timing mistake on TVIX at this point, I would just hold for a couple days.  I think the tail wind is now at your back.  TVIX will catch up to your buy price and then quickly surpass it if you make a purchase decision based on your chart misread.

Remember, patriots, the best thing you can do for your country is not to be poor when all of this crap finally comes crashing down because with cash you will be able to buy tons of babies that got thrown out with the bath water.  The more good and honest people that are left with means, the better for everyone else.

One final note: most of your retirement wealth should not be in the market, not even shorting the market.  Why?  Because when lying cheating crooks running the show begin to see the depths which the market is going to hit they might just decide to bomb Wall St or set off a doomsday virus.  It would be the economic equivalent of shooting an AGM 65 Maverick missile into the side of the Pentagon in order to destroy the computer equipment which was tracking the 2.3 Trillion in Pentagon "lost" funds that con man Donald Rumsfeld admitted were missing on 9/10/2001.  Yes, 1 day before 9/11.  Such a coincidence.  Again.  In any case, you might find that all records got wiped out and it could take decades in court to figure any of it out.  Any funds repatriated to you a decade later would be worth a small fraction of what they could buy after the fed begins massive if not hyper inflation in response to the meltdown of all economic markets.   Note: not just US markets, all markets globally.  The federal reserve is in fact the central banker to the world right now.