Congratulations!
The stock market was off by 100 earlier today, which caused a great panic amongst the canaille trading in and out of solar stocks. Lo and behold, the 3:30 ramp came and rescued them from the frigid waters and placed them on a floating door, eerily reminiscent of the one that bitch in Titanic presided on, as she watched poor Jack suffer and then eventually drown to death in the arctic waters.
On the investment side of things, I have the least amount of cash in months. Between my FCX short, TLT long and new gold and gold miner positions, my cash position is less than 25%. Details are listed in the blog inside Exodus.
Today’s big news was that yields spiked, especially the 2yr. Now on the surface, unlearned men will take this as a plus for the banks. But it means NOTHING, if the actual curve is tightening. Right now the 2-10yr yield spread is just 77bps, down from 90bps just a short while ago.
Also, the dollar surged v the euro and yen. Stocks, despite the NASDAQ being up, were down, fuck-burger. Market breadth at 39% means 61% of stocks were lower.
Utilities bore the brunt of the sell off, rightly so. Valuations are out of whack and I’ve been saying this for some time now.
The remainder of my cash will be reserved for the next Exodus oversold signal, which is overdue. The last OS signal was on June the 27th, 2016, which turned out to be an exemplary display of harmonious mathematical precision–for the explicit purposes of winship.
Have a great weekend.
If you enjoy the content at iBankCoin, please follow us on Twitter
Well, actually, he froze to death, and then she cast his lifeless body away into the abyss.
Just sayin…
“Don’t ban me, bro!”
>The remainder of my cash will be reserved for the next Exodus oversold signal
My Fibonacci Android app has confirmed:
The next buying opportunity will be Friday September 23rd at 13:45 EST, with the S&P at 2098.34.
Fly – hope you do a followup post on the crazy development today in the Icahn-Ackman story.
Jackson’s shithole is in the Good Book. Crazy right. In other news Satan is a myth and pacifists run the world. No religion obviously. Human condition is a son of a bitch. What the fuck. Drugs help. A lot.