Well, for our latest Total Waste Of Time, may I present to you the past twenty-four hours:

A lot of trade war excitement and then…….a total reversal.

In a rational world, the only explanation for the above would be that yesterday evening China and the U.S. announced they were reducing all tariffs on all products to $0 and they were seeking new ways to partner in industry. THAT would explain such a reversal. As it is now, though, Trump throw a missile at them, they threw a missile back at us, and everyone figured that was a great reason to go long Amazon and Apple again.

Let’s face it, volatility appears to be heading to $Zilch. This year has been nothing but a series of diminishing jolts, with the most recent one logging it at a pathetic 15 or so. The death of natural markets has not, in fact, been the least bit exaggerated.