Things are about to get real colorful around here. Both the Dow and NASDAQ are knifing lower now, off 89 and 50, respectively. Losses are most abundant in the commodity space, with gigantic slides in tankers (-6%), aluminum (-5.8%), gold (-4.4%) and copper (-4.4%).
Essentially, all of the perversion that was jacking worthless assets higher over the past 5 weeks are being corrected and checked.
A wise man once said ‘the market takes the stairs up and the elevator down.’
I say it’s gonna skip the elevator and jump out the fucking window.
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Even if oil wasn’t to turn lower, it needs to sustain a path higher in order to justify the recent run. The stocks front ran the product and the product’s reversal means, like you said, those stocks need to jump out of the window. I can’t imagine we pansy around waiting for higher prices like we did from Nov to January. The tone is decidedly worse and we’ve tested lower prices not once, but twice. It is now familiar territory.
I am also talking my book here as I would like nothing more than to see stocks hammered and bonds stand atop their rubble but there’s a reason I’m putting my money where my mouth is.
Now that I’ve said my piece, stocks will be 40% higher tomorrow and bonds worthless.
OIL WILL DIE (OWD)
Ark will die (AWD)
Let the decoupling… . . . begin
BEGIN!
much better. i made eight trades. can someone please refire the fear fax machine? thanks in advance.
If you didn’t sell or hedge your energy exposure, you deserve the pain.
But do you really think “they” will let the 401k mutual fund muppets add to their accounts from prices much lower than here? Shorts do not overstay your welcome.