Can't you hear the conversations with advisors happening this week?
A: Sorry Mr. Jefferson, when we sold your Total Return Fund we were only able to redeem 97%, so you get a 3% haircut just to get out. Uh, yes sir, there will be a 15% tax on that long term hold as well.
Mr. J: What's that? You are pissed?
A: Wait....sir. You want to redeem those funds in cash? OK, first you have to sign this government form telling us exactly what you intend on doing with this cash.
Mr. J: So they are gonna put me on a terrorist list and treat me like a common criminal cause I want my cash?
A: No sir, it's nothing like that. Nothing at all.
Mr. J: I want my funds immediately?
A: Well .... we will get them to you when available. Since they closed the gates there may be a waiting period you have to endure before we can release your funds.
Mr. J: Closed the gates? WTF does that mean?
A: You see the Fed may have anticipated runs on bond funds back in June and have kinda changed to rules on who actually controls your money.
Mr. J: Controls MY money? Fuck off. This conversation is going down hill faster than you want it to Mr. A. I'm losing 3% just to liquidate and you are putting me on a terrorist list.
A: Whoa. We're not putting you on a terrorist list. Yes, you did get a 3% haircut when we sold the funds but that is just what happens in mass selling like this.
Mr J: So, is there any more bad news I need to know about?
A: Well sir, with the gates closed there is a rather good chance you will get another haircut when we do a mass liquidation at the firm for all the good folks like you that want their money back.
Click.
A: It's a good thing he did not ask me about what's gonna happen when he tries and get his funds out of his bank.
Quickly on the collapsing Obozo calamity which only continues to worsen (which will only continue to worsen). So this dipwad is figuring out that the race card does not play every time he needs it, and Holder, Pelosi, Reid and Co are no longer there defending his every failure. One truly is the loneliest number, even when you are "the most powerful man" on the planet. He can't run from "We told you so - over and over and over again" no matter how hard he wants to. Fury as Obama blames intelligence agencies for Isil surprise. Sounds like someone is calling "bullshit" on potus. This once was a serious no no, but it now may become fashionable. No worries, at least he's got flotus to come home to every night. That's comforting to know. Of course - WH Denies Obama Threw Intel Agencies Under The Bus When He Blamed Them For His Inaction On ISIS…
On to the lie -
Weekly Indicator Chart - Don't ask how or why, just accept that it is till it isn't anymore. Mr J. above better be happy to be getting out while the getting is good. They are breaking all the rules now, and this can not last.
Monthly SPX - This looks like an awesome time to be reallocating that potential $200bn in PTAX money.
Another Monthly Look - I'm not about to move that target box.
One of these is not like the other and is already technically in a bear market - RUT has reached prior support levels and the last two times it did this the ramp was one for the ages (at ATH levels). Can they pull it off one more time?
More to come below.
Have a good day.
GL and GB!
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