The damn economy got better. The better than expected jobs reported only lends to the idea that rates should go higher. Who released that report? He should be fired!
Anything with a yield is getting hit, including my REIT, ticker O. Housing is going to get penalized, based upon the theory that higher rates means no one buys homes anymore. And, finally, 10 and 30 year bonds will get smashed. Have a look at TLT, then get back to me–pal.
I wish there was something positive to say, aside from the fact that banks make even more money with a higher rate environment, thanks to the ‘spread.’ But, all in all, this is a disappointment for me.
We should still make some money today, since we missed out on the massive Draghi-inspired rally on the 4th. But there will be nothing cartoonish about it. I expect a mixed market, one that throws some investors through the windshield, while others chill in an air conditioned cabin listening to the latest Rick Ross rap song.
I might make some changes today. Stay tuned.
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I am also holding “O” and taking a hit, but have held it for a couple of years and still up 26% – no plan to sell.
I couldn’t be worse positioned for what has occurred this morning….except i am about 50% in cash. The rest is in intermediate bonds, reits, miners, and tza. Fucking comical in all honesty.
Somehow at least i am not yet negative on the year.
The market appears to be transitioning…but i wonder if we are moving from a market where everything went up, to one where everything goes down? I will hold my cash position for now.
If you want to own gold, buy goldman sachs, not the rapidly depreciating metal.
Yes the metals suck…but i have just a smallish position (and growing ever smaller) of VGPMX, less than 2% of my total portfolio. I will leave it there for a decade if necessary.
But, about 12 months ago i had 100% of my portfolio in there…it is down about 40% since then….what an absolute calamitous disaster i avoided.
I think it is actually bonds which will cost me the most today.
Pretty big fade….
Yes indeed. This sucks. But it might get worse.
well i dumped half my tza, happy to be out at a minimal loss. Will let the other half ride and see if this turns legitimately ugly.
and TZA just went green…..surreal.
Well thats good enough for me….flat in my trading account, going to get back to BBQ and Beer….not losing today was as good as winning.
The carnage caused by LINE is presenting opportunity. Buying QRE, MEMP. Selling off in sympathy of LINE. MEMP is run by Natural Gas Partners who are the smartest in the business.
I disagree. Line sucks
You know better than that Fly.
No Federal Government worker ever gets fired, even if found in bed with a live girl or a dead boy.
They are the elites and we are just the pawns.
Better than LINE is LSTMF: Devon Shire of SeekingAlpha just commented he is, “Still holding Lightstream and actually quite happy with what they have done operationally. Canadian oil prices are exceeding Lightsteam’s guidance for the year and it looks like production is as well.”
article/1535192-is-canadian-natural-resources-about-to-take-a-run-at-penn-west-energy
That person has been pumping PWE since $30. Each year he/she comes up with another pump and dump scheme that some other company is going to buy them out. Last year (or the year before) that idiot said XOM should stop buying back shares and buyout PWE instead. Ridiculous.
The author is hugely underwater and is praying someone will come along and bail him out.
FNMA/GNMA/MBS-complex getting poleaxed.
ZTS GOING LONG
I am not buying LINE. It’s the other guys that got hit by the blast. Sympathy plays.
XLS in it…take a look
Higher interest rates = demand for the great, almighty, US Dollar = other currencies suck.
NBG any players? i’m in it here
all eyes on Egypt, the brotherhood, bengazi and the yield curve.
FLY are you still in YGE? HSOL took also off
Trading portfolio is at all time high today…. just the way I like it… $DLV $DGLD $DUST…. fuck me for selling my solars too early…
YCBMAP!
Great reference in the title, I imagine absolutely non of the plebs understood said reference, but I did.