European markets are higher by more than 2% and our Dow futures are up 180. One small deal of note this morning: MLNX is acquiring EZCH for $25.50. If any of you are wondering what might drag the market out from its bleak existence, it is deals. If we start to see a few deals in the biotech and semiconductor space, both hated industries right now, you’ll see this market run higher.
How bad was Q3?
Oil and Gas Exploration sector was -43%
Aluminum -38%
Minerals and Miners -35%
Nuclear -32%
Solar -32%
Oil and Gas Pipelines -31%
Silver -31%
Shipping -30%
Steel and Iron -30%
Chinese Burritos -27%
Chemicals -27%
Copper -27%
3-D Printing -25%
Biotech -25%
The list goes on and on. It was an absolutely dreadful quarter, with safe haven found in only a handful of sectors, like airlines, utilities, REITs and consumer staples. To sum up Q3: it was all about China and how horrible they are and how their economic turmoil was going to lay waste to ours.
Hopefully we can find some redeeming qualities in this market in Q4, decouple from the barbarians in the east and get back to banking coin.
If you enjoy the content at iBankCoin, please follow us on Twitter
Plenty of people have been banking coin recently by shorting though I realize that’s anathema to you. Why play just one side of the market?
do you have a real question, or just snark?
Think that was a real question. No snark.
looks like bear market numbers to me,
and this years tax loss selling will be MASSIVE,
Don’t forget govt shut down