The Dow was up, NASDAQ lower and the S&P was flat, in a ‘do nothing’ session which was highlighted by a boring capitol hill shooting. Weakness was rife in the basic resource sections of the market, further emboldening my belief that to be short XLE, long SPY is a proper trade indeed.
Once again, treasuries were strong, as TLT straddles $130, in spite of the fact the market has rallied for six consecutive weeks.
Very soon, the market will turn towards profits and how the Fed might respond to growth or lack thereof. The opening salvo of 2016 was a mere appetizer for things to come. After the year is done, I expect to see inspirational sell-offs that rival the golden days of 2008.
Europe was closed today, due to Easter Monday (I have the slightest idea what that means), so today was sort of a do-nothing, watch lame shooting on the teevee, type of day.
The one bright spot from today’s tape were in the retailers. Perhaps there are people out there who believe the mall isn’t dead. Those people will be proven, inexorably, wrong–all in due time.
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Audit the Fed. Audit the Fed. Audit the Fed
And oh boy lookee those top10 weighted dow components did really well compared to the bottom 20. top3 add in UNH TRV HD
He died on a good Friday and rose on the 3rd day – Monday. I suppose rising from the dead on the Sabbath is considered work and He couldn’t be seen breaking the 4th commandment.
Joking.
Where did Frog go? I miss the seven paragraph comments on how to save the world with more government and meditation.
My guess is that it’s not trade related; but rather scanning various rolling stone articles and vox whatever. Getting on the ready to copy and paste clown show political replies to so called right wing propaganda sponges. You know, important stuff.