Since the beginning of 2016, all stocks have traded lower. Inside Exodus, I keep an array of portfolios to help me assess risk. My old man portfolio is down almost 6% for the year, while my super risky bubble basket is lower by a staggering 20%. But today’s divergence is between the two is meaningful.
For the day, the bubble basket is down more than 4%, while the old man portfolio is up. To me, this is a positive development, as it means cash isn’t just being stored in treasuries or under the mattress, but also in counter-cyclical names. This could possibly be the very first sign of stability in this fucking livewire of a market in 2016.
Look for managers to start buying bargains next, which then might lead to a full fledged melt up.
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Is the volume of the Old Man portfolio significantly higher today?
I lightened up on my downside hedges at 10:50 & 2:50.
Portfolio started up .70, then down 1.05, look to close up .15.
Promising
If we rally this time, I will paper shred my birth cer-tificate.
sold individual longs and swapped for equal weight sp500 etf- I call it halfway throwing up the white flag.
market can rally now