The sell off in stocks has been hitting high yield for weeks now because of the leverage ratios blowing out. This is the negative feedback loop that is inescapable in bear markets. High yieldFAGS need to understand the blade cuts both ways.
But now we’re seeing something far more insidious, as well as ominous. It looms even. Investment grade paper ripped from its roots and forming a head and shoulders top. Is this the beginning of MOAR panic, more pain in the credit markets?
It’s worth mentioning, Black Rock’s high yield ETF, HYT, is lower by 2.5% today. It holds over 1,000 corporate bonds, notable and important.
Income ETFs are getting skinned alive across the board.
You should’ve read the prospectus.
This just in…
MEXICO CENTRAL BANK RAISES OVERNIGHT RATE TO 8.25% FROM 8.00%
— zerohedge (@zerohedge) December 20, 2018
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Below this morning’s low, short term chart say /cl has quick additional $2.30 lower.
Hodl up. Was that it?
This is feeling more and more like August 16, 2007.
Thinking the same thing. I cashed out, but am confidant we haven’t hit a mid-term bottom yet, but could be done with December drama. All my short positions will be oriented to January and beyond.
I’m long AAPL, but fully expect it to hit $151 or below.
Thanks to TVIX + NFLX, my trading *account* was up 10% today.
All the ingredients are now present for silver to squirt up $1.50 through the air pocket above. Getting sick of waiting.
Good call on silver. Took a position in AGQ this morning. ??
Does market ever bottom on a Thursday? Cuz this looks like one to me.