As long as TLT keeps going higher, stocks will be under pressure. The entire yield curve is fucked now and it’s applying stress onto banks. While we do not need banks rallying for the market to rally, we do need the banking sector to be vibrant and healthy, otherwise capital flows will contract and the economy will fuck itself into a recession.
I’m suggesting that you watch the 10yr yield too, presently at 1.87% for signs of a reversal before you step in large with big dicked buy orders. This being a Friday and all, you’d be hard pressed to find the market rallying with any real verve — and much more likely to panic press into the close.
I’m on a bit of a losing streak here, booking losses and not really complaining about it. It’s all part of the game, this stock business. One minute you’re riding high and pissing out of stretch limos and the next you’re getting ran over by a 1983 Oldsmobile by someone’s grandma.
At the moment, I’m 35% cash, red painted ALL OVER my portfolios — happy as a fucking birds in a house filled with seeds.
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Fed balance sheet clearing ends in August, but there’s -0.25% for a life raft. I’m 80% cash with a will to chill.
My grandma had a 1983 Hurst Oldsmobile Cutlass. Technically, it was grandpa’s, but she liked to drive it. It was an 8 cylinder beast. The only thing she ran over was my dog, in the driveway.
ha nice. my dad had cutlasses throughout the 70s and 80s, after a few years he’d get a new one and get to buy the old one for my mom. mostly Supremes. I Had my mom’s last one (maybe an 88?) until my daughter totaled it in FL a few years back.
Sorry to hear about that. Losing a pet is rough, especially if you are young when it happens.
It’s starting to look interesting out there. Did someone say… burritos?
Fly USHIP.COM for movers. Not sure if I can say it was all pleasant but it worked out