Stocks Suffer Worst Start To A Year Since The Dot-Com Crash

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Source: Bloomberg

Cryptos are up huge since the pre-new-year close - even with the overnight crash - with Ethereum leading...

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Source: Bloomberg

With Bitcoin surging back from a $27k handle to back above $31k...

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Source: Bloomberg

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Source: Bloomberg

And Ethereum holding above $1000 after crashing back below $900 overnight...

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Source: Bloomberg

ETH's recent surge has erased all of BTC's relative outperformance since Thanksgiving...

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Source: Bloomberg

As Morgan Stanley noted, with The Fed clearly depressing yields, Bitcoin is the only remaining true indicator of future inflation... and in fact, the move in Bitcoin suggests markets are starting to think this adjustment may not be so gradual or orderly.

Gold also surged higher today, back above $1900 to its highest since the vaccine-headline collapse day in November (this is the biggest daily gains for gold since the election/Fed in November)...

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Oil took out Mid0-December high stops overnight then was pummeled lower amid Russia/OPEC+ comments...

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Finally, with gold up and oil down, the signal was not a good one for global growth/recovery...

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Source: Bloomberg

We give the last word to Carl Icahn:

“In my day I’ve seen a lot of wild rallies with a lot of mispriced stocks, but there is one thing they all have in common. Eventually, they hit a wall and go into a major painful correction. Nobody can predict when it will happen, but when that does happen, look out below,” ominously adding that "another thing they have in common is it’s always said, it’s different this time. But it never turns out to be the truth."

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Roland Murphy 1 month ago Member's comment

Isn't the title factually incorrect? Here is the data:

charts.stocktwits.com/.../original_269581152.png