ASX goes long the American psycho

The Australian dollar is s till Happy Jack the Hangman this morning:

Bonds are selling as the psychopathic long takes hold:

Stocks too but they’re fading with US futures:

Big Iron just loves a psycho:

Big Gas is a psycho so no surprises that it’s warmed up:

Psychohedge, Big Gold, is still struggling:

Big Banks are excited at the idea of American slaughter too:

Funding is still cut off:

Despite its pretensions, Big Realty is a junior serial killer compared to  some:

The stockmarket bath of blood is alas going to be replaced by real American blood.

If you think that that will sustainably lift markets then I suggest a chat with Clarice Starling is in order.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)


  1. Depends on who you think should die. Just remember stress is one of the leading causes of cancer. So day there is a lockdown thousands of small business owns and worker endure extremely high levels of stress about there financial situation. This could wipe them out financially and mean years of high level stress and early death. This could be for 20 percent of the population. All this to save a couple of baby boomers who cant stay isolated. Dont be so sure your moral compass is facing the right direction.

    • Sadly it will wipe out thousands of small business owners and workers enduring extremely high levels of stress about their financial situation. It was going to happen anyway, one day or another. It just happens to be – today.
      It happens all the time; every day in fact. It’s just happening all at once this time.
      (NB: I’m not blase about this. I know business owners and workers who are going to find there is no tomorrow for them where they are. Sadly, even family. One is at the front door this very second, in tears, and we can’t even hug her given we are all at Level 4 )

      • Easy answer to this. Extremely iisolation for everyone at risk of having complication from this virus and we pay them well for their isolation. The rest of us carry on as usual. Unfortunately we dont have the politicians with the courage to do the right thing.

          • It’s also fair to say that it was, and is, really too early to say who was truly at risk.

            The more this pandemic goes on, the more we get reports that even plenty of young people are getting hospitalised, such that it’s not just quite the old-person’s virus we thought it was – it’s just worse for older people.

        • 50% of hospitalisations are people less than 60 years old. Healthy people in their 30s and 40s are still getting smashed by this virus, and ending up in hospital.

          With millions and millions likely to get infected, I think you might be simplifying the situation a fair bit…

          • Smashed. Hmmm like that get smashed with the flu. What does smashed mean. I’m sure you mean there very unwell but they will live.


            Lies lies they are fat smokers with diabetes and other medical issues

          • Spoke to pretty relaxed primary school teacher who is going to home school her children in short terms Husband is a senior ICU nurse at major melbourne hospital. They currently have ZERO patients – all beds are empty. I asked where sick prople are. Everyone is at home being not sick enough for hospital. Only one person currently in ICU in Victoria. I sympathetically asked if he is working long hours, run off his feet and exhausted. To which she dukes and replied “No just doing an hour overtime in last week”
            Where are the exhausted medical staff working? Teachers I get as they are trying to set up Zoom for phone conference but just like rest of workforce:)

          • I have seen, and read, of plenty of testimonies of younger, healthy people getting the virus very badly. ‘Smashed’ obviously doesn’t mean ‘died’, so of course it implies recovered. But it does mean getting very sick.

            It’s still something to be avoided, and managed carefully, else people that need medical treatment may not get what they need, resulting in an unnecessary degree of illness, and unnecessary deaths.

            Crikey, I partially wish we’d just let it run so we could show the stoics what not reacting would have done – can we start with their houses and families? (I’m not really serious)

          • It’s difficult to escape the conclusion Col either is trolling or doesn’t understand the situation adequately.

        • I understand that that people will die if there is no lockdown. But do you understand that suffering that will be caused by a lockdown. The hidden suffering, people slowly drowning financially, up to 20 percent of the population. Some of these people will never recover emotional and will end up will terminal stress related illnesses. Some of these people will turn to the bottle or drug, for others the stress will result in family violence and divorce, thousands of children will have the parents seperate because of a lockdown decision. You cant just brush that off.

          • drowning financially, or drowning from virus infected lungs full of snot. I know which I’d prefer.

          • Yes there’s gonna be second and third order consequences that government and society will have to manage.

            The first order effects of mass death and overrun health system will also generate second and third order consequences of stress and psychological damage to the families effected.

            Our primary focus should be on minimizing the spread to save lives. At the same time we can consider how we can manage the financial fallout of shutting up shop for a coupe of months. Then we consider how we organize ourselves at the end of this so our society is more robust in the face of existential threats.

            I think you’re trolling me so I’m gonna leave it here.


      Dunno. By the same twisted economic calculus, loosers that couldn’t manage their finances, and went to the wall should perhaps be allowed the “early death”, as you put it. With these poor economic and risk managers removed from the gene pool, the future economy we build from the wreckage mightn’t be half bad.

  2. Who is happy Jack the hangman?….More to the point do you think you could provide commentary that includes price targets and key levels along with the fundamentals supporting your conclusions.

  3. It’s all good now, everyone been flushed out, buy buy buy…this will roll again v soon, best opt to unoad and go short..US mkt will be back down to 18k dow again by friday…also love th idiots who buy into weekend…wtf are they thinking, thats 2 days for more body counts..

      • Correct….this is going to take along time to recover….during GFC, it was all financial not health, although it affected peoples health it was not the front line cause of the crash, people still went to bars/restaurants gyms mingled etc etc…this is way different, outcomes cant be based on GFC, the same the RBA based there outcome on past outbreaks like SARS, they were so wrong….govts are throwing everything at this, just look at what the globe govt and CB have done, they have hit the panic buttom big time, they know… and the bounce???…its weak in relative terms…it hasnt bottomed, its just floating unguided….we have like gone back 200 years, no travel, no parties, bars island hoping etcetc u know what i mean…people still acting like they know whats going on, we don’t, Govt don’t, CB’s have no more amo…its like we have been nuked and we are now in the week after its happened….do you think recovery is going to be quick?…flow on will go for ages, unemployment will be way more then what they predict….globally.

      • I dipped my toe in on both today. Got BBOZ early when the market was down 6% so it did OK – would have done a let better before the 3% rise in the last couple of minutes of the day! Got BBUS around the middle of the day at a bit more than the close (again with a late flourish). US futures were about flat at the time I think.

        Also managed to sell out of BHP at just over $31. Will get back in when it falls below $26 again I think.

Leave a reply

You must be logged in to post a comment. Log in now