The S&P closed flat for the week. It truly feels like the summer doldrums is upon us. There was hardly anything going on, aside from a rout in healthcare related stocks — thanks in large part to the menace of the ‘skinny bill.’
The biggest outperforms were in auto parts, retailers, and oil and gas — the who’s who of orphan sectors being sopped for dead cat bounce purposes.
I reshuffled my positions today and cleared them all out for larger cap holdings. Also, I sold out of TLT and added more GLD — which now amounts to 10% of my holdings.
FANNG stocks suffered a 1.6% drawdown, led lower by GOOGL. All things considered, there was nothing at all to be worried about or inspired over this week.
Until the market becomes interesting again, I’m afraid you’ll be stuck with a lot of political rantings by yours truly. I do enjoy a good shit-show.
Enjoy the weekend.
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Why was I so obsessed with vix 6 months ago?
The last few weeks has shown. It was the primary story.
And one of the top 2 mechanisms for the pushing-of indexes higher
Vix 9 in 07 was a legitimate fullblown sector bubble
Vix 9 in 93 was a legitimate productive capacity(computers)
Vix 9 today, Ha ha, Ha, ha, Very very very hard to argue, not, artificial
To the overseers, Trying to outlast bears:
you.cant.get.under.11.vix.much.longer.NOW
“John Henry” swung his hammer 1 more time than the machine.
Overseers of the vix game, I can wait
I don’t know about anyone else, but the alarmist headlines out of every news outlet has become a bit of a “cry wolf” where now I’m so dulled to any headline that they are all equally uninspiring. One day when we have a more boring president people are going to go the opposite direction. Probably just me.