This here’s a story ’bout Donnie J. and DJI… <woo.. woo..>

I’ve added a link to help set the mood 🙂

Yesterday markets blasted again through lifetime highs as we saw the Dow take out the euphoric $20,000 level for the first time.

President Trump heralded this mighty threshold in a way only he could pull off:

I thought it might be interesting to reminisce on the President’s recent views of financial market valuations and so I dug up a few motivational quotes:

“So Bloated”  –  June 6, 2015

“Big Fat Ugly Bubble”,  “Believe Me” – Sep. 26, 2016

Who doesn’t like a little irony, right?

Well, anyone daring to carry short deltas and a fondness for volatility isn’t finding this ironic new year twist amusing.  All the chest bumping in the equity markets left the VIX cowering off to fresh multi-year lows:

 

What about those pesky interest rates he warned about?  Here’s a look at the rising 10yr yield:

So Hats Off to the Bulls…

 

If you dare to be bear, look at it this way:  You’ve never been able to sell them this high and volatility is looking pretty darn cheap.

Believe me.