All I can say is that these are the kinds of words one expects to hear just before the trap door opens beneath them. All kinds of unseen stresses have to be in place right now with the global economic system to have been able to twist it the way it has been twisted. I recall similar statements being made around the time that the Madoff Ponzi collapsed. One person who had his money in with Madoff said that he believed something shady was going on but he didn't care - Madoff was making him rich. The speaker was proud to be in the pocket of the insider and he thought he was going to have perpetual prosperity as a result.
There is no fear in these markets yet but it is coming and when it arrives it will be wild eyed panic. I think the completion of the rising wedge here could be wave 2 or b of the NYSE composite. When it goes into wave 3 (or C) down, it will not be going alone. The coarse buy trigger for UVXY will likely be either:
- a break out of the top rail without hitting a higher high and then falling back below the top rail
- a break below the center tine of Andrew's pitchfork.
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