Although the Masters of the Universe have shown themselves to be adept at rotating money from one sector to the next in order to keep Wall Street’s Ponzi scheme going…forever, they will need to commit huge new sums to the FAANG stocks to maintain the bull market’s credibility. Shares of world-beaters such as Amazon, Apple, Google and Netflix have languished for weeks, putting a drag on the Dow Industrials that eventually will turn lethal to the aging bull if FAANG shares stop achieving new record highs with awe-inspiring regularity. My guess is that Facebook and GOOGL are about to lead the charge, since their ability to monetize eyeballs will always be reckoned by investors as an easier path to profits than selling actual things, as Amazon, Tesla and Microsoft must. In any case, hoisting some of the biggest-cap stocks in the world even an inch at a time will require larger and larger infusions of cash.  Succeeding at this game will become far more difficult if the Fed continues to tighten, even if they are just bluffing. If traders haven’t factored this into their thinking yet, it is time they did so.