Nothing in credit happens without affecting the banks. Ergo, as HYG drops and the prospects of high yield worsens, logic dictates so should the banks.
Goldman continues to break down.
More specifically, the XLF is below its downward barreling channel and looking like it wants to plunge.
I went long FAZ this morning.
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Fly gone full bear. Let’s get this party started. Burn it down.
Even though I envisioned this exact scenario a month ago, I still think that we bottom soon, particularly with the active week that we will have (FED, possible shutdown, etc.). Note that AAPL went down 2 pennies to clsoe the gap from Friday and is now up 1%.
I’m overall neutral on stocks, looking to pare out of longs and shorts and go to cash.
https://ibankcoin.com/flyblog/2018/11/16/trump-cried-wolf-cramer-faber-get-bearish-economy-trash-fed/#comment-555455
At least for the December timeframe – I’ll still hold some january Puts
Long FAS
I will enjoy eating your liver.
While the severe underperformance of Utilities this morning ( (XLU, -1.5%) seems to indicate that sector rotation *into* risk is indeed occuring today, that’s still a ballsy play.
“ballsy play”
You’re anatomically close. But I believe the correct label is “dickish” …or perhaps “trollish”.
Taking an opposing postion to Fly is not dickish at all.
If he has written “Only an idiot would be short XLF” or something of that nature, then you’d have a point, but acehood simply stated one of his positions.
Calling it dickish is an example of this bullsh!t partisan us/them phase that the US is going through. Civil disagreement is at the the root of democracy.
My preachy little friend …lighten up.
Fly takes a triple etf position and posts his rationale for doing so …then a troll posts two words about his taking a 180 degree opposing etf position.
I retract the first part of the first sentence above. Too bitchy sounding. Peace be with you.
Didn’t bother me as much as the fact that even when 70% of Americans agree on something it doesn’t get made into law.
I thin kwe need a Constiturional Amendment to bar excessive gerrymandering, because individual state legislatures are generalyl too partisan to do it themselves.
And contrary to popular opinion, gerrymandering is rather easily defined objectively and mathematically by looking at the areas and perimeters of voting districts and counties.
Crude is struggling hard to hold above 50.