These are the sort of “squalls” I’ve read about in the best investment book ever written, 28 Years in Wall Street, by Henry Clews. This day and age, we all act like robber barons, pillaging one another, so we might as well get markets like them.
The Dow is down a thousand points this week.
How extensive is the damage to individual stocks? Take a look at this median year to date carnage.
Some of the highlights include: Shippers down 15%, Auto Dealerships down 14.4%, Oil and Gas down 12%, Biotech down 11.4%. The only sector that has evaded the market’s wrath is gold, +10%.
The best performing ETFs for the year are LABD (+40%), UVXY (+33%), DWTI (+33%).
Mega cap underperformers of note are AAPL (-8%), MSFT (-5.3%), AMZN (-10%), WFC (-7.5%), JPM (-7.5%), BABA (-10%), CX (-16.4%), BHP (-12%), VLKPY (-14%).
Side note: This is the worst start to the S&P 500 ever.
short squeeze, hopefully, is just starting in gold. all cash besides some march gld calls.
Don’t worry, Ben is calling Janet as we speak.
Time to legalize weed and reap the reefer.
King George and those top-hatted gents are probably wagering how far they can make that guttersnipe run before he gives out….. while taunting him with dimes on their laps.
you fucking nailed it with cash and tlt. I don’t need to see anymore
So, how many short positions do you have on?
Worst ever –> rip your face off rally.
Thats the mechanics of the markets, folks.