A global sell off is underway, in light of rumors that Mueller is going to investigate the President for obstruction of justice. Clearly, the acrimony is having an obtuse effect on the cocaine addled money managers on Wall Street — who are on the precipice of taking a few month’s off to summer near a beach or cool breeze — mountainside.
Asia is getting lit on fire tonight, led by fidget spinning fuckheads offing their shares. Hong Kong is lower by 0.9%, Australia -1.32%, China -0.71% and Japan -0.41%.
Nasdaq futures are down 35. Gold is down 0.7% on news of Yellen tightening. And the speculative bubble in cryptocurrencies is collapsing now, with both Bitcoin and Ethereum down by more than 10%.
For the week, however, it’s worth noting small caps have performed well — in line with my personal portfolio. After small caps, treasuries are higher by 1.32% — leading the risk averse crowd to safety.
Generally speaking, tech has been bearing the brunt of the sell off, namely semis. There is a rotation underway, but it’s subtle and not entirely actionable.
On Friday, I will be adjusting my portfolio again — which has been crushing the SPY, in a measured way, over the past 5 weeks. This year, I am going to approach the market in a systematic fashion, using only Exodus to provide me with strategies, adhering to strict rules — all in the name of alpha.
I intend to take this a step further, with our next upgrade of the software, leading to the eventual grande opus upgrade which will come in late 2018. For now, however, the lot of you will have to make due with unparalleled mean reversion tools, a great community of traders, and picks from both myself and Ragin Cajun.If you enjoy the content at iBankCoin, please follow us on Twitter