SAS troops have been deployed in Libya preparing to wrest back control of more than a dozen oil fields seized by Islamic State. Approximately 6,000 European and US soldiers, including 1,000 British troops, will be involved in a number of offensives set up to halt the advance of ISIS. According to the Daily Mirror, the operation, supported mainly by Britain and France, will be led by Italian forces and is planned within the next few weeks or months.

Something unexpected happened on the road to the latest Greek "recovery": the local population no longer believes one is coming.

It appears the FANTAsy stocks (Facebook, Amazon, Netflix, Tesla, and Alphabet) are suffering this morning as investors choose not to rush to the safety of triple-digit P/E ratios amid the market's collapse. Tesla is tumbling on burning-car concerns and Netflix is dropping after another downgrade. The rest are all ugly as it seems faith in FANTAsy is failing...

Tesla's current pre-mkt price $230 is below its 200-DMA ($236.81).

Submitted by Jim Quinn via The Burning Platform blog,

Late in 2015, Germany's Handelsblatt reported, erroneously, that Venezuela was the best performing asset class of 2015.

It wasn't. The reason this was in error is because if one adjusts the returns into the real currency exchange rate, one which reflects the true implosion of the economy, instead of the government "mandated" one, the result is very different, one which shows that contrary to popular wisdom, during hyperinflation stocks are not a good store of value.