Greed returned in a big way this week:
Largest 3-week inflow into high-yield bond funds in recorded history:
A beautifully clean breakout in the Nasdaq Composite as the tech heavy index reached the highest levels since March 2000:
Even much maligned crude oil ended the week strong to close above its 50-day simple moving average for the first time since July 17th, 2014:
And Treasuries were crushed as investors decided to leave the safety of Uncle Sam in favor of moving into much riskier high-yield corporate debt and equities:
We followed through with the fat-pitch trade which we highlighted yesterday by taking a short position in the SPY at 209.65, this will be a 1-2 day trade and we will keep readers updated as it evolves.