iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,474 Blog Posts

Today’s Winners and Losers

The best sector is solar, with gains in SCTY, FSLR, RSOL and DQ. ASYS has been melting up on a daily basis too.

About 75% of stocks are higher today, bucking the trend of rates. As you see, TLT is lower for the day.

Regional banks are outperforming again, as managers allocate into names that stand to benefit from higher rates. Names like HBAN, SBNY, CMA, FITB, ZION and TCBI are accelerating to the upside.

Although tempting, I’ve opted to not chase the market today. I might regret it, since we have lots of upside potential if the current panic turns out to be bogus. But before I can buy, I need to see TLT higher–plain and simple.

It’s worth noting, Dry Bulk rates shot higher again. I know some believe they’re rising due to chinese iron ore demand. But I still believe the core reason to ever own a shipping stock is based upon the premise that ships will be scrapped after bankruptcies are declared. Tighter credit could decimate the shippers. I haven’t bought back the FRO shares that I sold because of higher rates. They need to refinance by 2015. The clock is ticking.

It’s frustrating to watch TXTR melt up. I had an in on the name and never bought a share due to the low volume.

For now, I am still focused on IMMR and will be waiting for the cocaine party to break out, hosted by The Gimp, to get back into risk.

Oh, as for the losers, gold and silver, again. What else is new?

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11 comments

  1. the_letter_p

    lots of short covering in bonds, still no sign of reversal. tlt should continue lower.

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  2. Marc David

    The Risk Index still looks awful.

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    • MRS. ROB CARL

      This a good thing for doomsday investors such as yours truly.

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  3. jimmy_two_times
    jimmy_two_times

    as mtg rate tick higher, arent the holders of MBS shroting TSYs for a hedge?

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  4. MRS. ROB CARL

    My husband Rob is such a boss. He’s shorting the markets and buying me everything. Short OEX contracts broskis.

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  5. Gint

    Fuggit!
    NUGT!

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  6. MOOBS

    Fly – In the past strength in TLT was an indicator of pending equity weakness. I’d appreciate commentary on the change – why this has reversed. Moobs

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  7. Jake the Rake

    GCAP KKR PCC GGT

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  8. Junk is UP

    Junk bond funds are up today: JNK, HYG, etc. Also dividend paying equities are up: IYR, XLU, etc.

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  9. pedro

    Please edit and add VHC to the list of losers for which nothing else is new. Thanks.

    Is the Devil still stubborn enough to stand by his $200 price target?

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  10. Drew

    Fly, When you say you want to see TLT higher, do you mean ‘trending higher’ or do you have a set target? Thx.

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