It’s time for the Friday Fat Pipe. Let’s dive in…
The Second “Tremor”
On Jan 26th, 2026, the markets experienced a tremor, which I pointed out at the time. The signs are that everything gets sold all at once except for dollars and the yen. Bonds barely move.
But everything else goes down pretty much all at once and in concert.
This is a sign of a liquidity issue, meaning a mad dash for dollars wherein everything and anything gets sold.
Yesterday, on Feb 12th, there was another market tremor. The signs are unmistakable. Everyone should be paying very close attention because this is how large, nasty market declines tend to start.
It all begins with a sudden, very sharp spike in the dollar accompanied by declines in every other currency…except the yen.
It very rapidly spread from the currency pits to equities, metals, and energy.
Best guess? One or more highly leveraged strategies out there are blowing up. The yen’s relative strength suggests there’s a carry trade strategy in trouble that needed to be suddenly unwound.
Because of the reflexive nature of thousands of trading algorithms all keying off of one another, these things now hit fast and spread quickly.
A major market rout in the near future is now on the table.
by sand_puppy 
