Things I don’t like:
Refiners are trading like shit again and oil is getting smashed over the past two days. However, the market has been going up on oil weakness, which is nonsensical. Basically, the indices go higher no matter what. Generally, stocks look tired. Solar stocks broke out today because of the China subsidy news. But if you were long solar over the past month, you got your fucking brains kicked in.
Auto stocks and banks are looking good, as well as retailers. But volatility is basing out, fuckface. It’s done going lower and a storm is brewing.
LTRO is the stupidest shit in modern finance. It is barbaric and it will end in absolute failure. You can bank on that.If you enjoy the content at iBankCoin, please follow us on Twitter