This is a solid gain, despite just 73% of stocks trading higher. We have the banks and materials leading the way, with bonds and gold selling off.
This recent downtick has several key elements that are the proverbial stars, or poster children, of this whole mess. It stems from the commodity bust, bad banks making bad bets, China, retail getting annihilated by Amazon (death to the mall), and the social media bubble being let out.
If forced to choose five stocks that represented the overall risk appetite of the market, I’d go with Twitter, Deutsche Bank, Wynn Resorts, Macy’s and Freeport McMoran.
Sorry, they don’t Voltron up into a convenient FANG like fucking acronym for your small brains to memorize. But these five stocks are the horsemen of our time.
They’re all raging higher.
TWTR +9%
WYNN +12.6%
DB +11.8%
FCX +15%
M +2.8%
I guess you can call them TWDFM if you like, after “These Will Definitely Fuck Me”. They are the opposite of FANG, the Mr. Glass of this story. But they need to go higher if we’re to escape the wrath of the seemingly endless negative feedback loop.
But they’re built to hurt you. You know how the story ends. Villains always lose.
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LOL, perfect. TDWFM. IMHO todays rally is based on a Dinner Meeting that Merkel and Cameron are having tonight in Germany. Merkle is probably going to tell him what the EU will give him to agree to stay in the EU, next week is the official meeting. After the News comes out that Germany and UK are very optimistic. The Good News will be sold off, like it is in any good Bear Market. And with the Global Index being in a Bear Market Finally..it looks like all we have is down. BTW, Shanghai on Monday should be OK, but that is because China Govt is in buying.
FANG fading.
Spectacular post Professor Fly
I’m long a lot of twitter @15.62
I’ll hold the defensive line
Want to start a position, but I’ve been fucked so many times by this stock.
OK BOJs Nakaso is helping to weaken the JPY a bit about Japan being able to throw more money. This should help USD and put a stop to the Oil Run up. The Cameron/Merkel speeches should happen before the close. Time for fade..with Oil being up 11.37%
Great post. BTW, have you checked out old IBC fav Silver Wheaton recently? Up 33% in the past month.
Twaduffums.