This is a solid gain, despite just 73% of stocks trading higher. We have the banks and materials leading the way, with bonds and gold selling off.
This recent downtick has several key elements that are the proverbial stars, or poster children, of this whole mess. It stems from the commodity bust, bad banks making bad bets, China, retail getting annihilated by Amazon (death to the mall), and the social media bubble being let out.
If forced to choose five stocks that represented the overall risk appetite of the market, I’d go with Twitter, Deutsche Bank, Wynn Resorts, Macy’s and Freeport McMoran.
Sorry, they don’t Voltron up into a convenient FANG like fucking acronym for your small brains to memorize. But these five stocks are the horsemen of our time.
They’re all raging higher.
TWTR +9%
WYNN +12.6%
DB +11.8%
FCX +15%
M +2.8%
I guess you can call them TWDFM if you like, after “These Will Definitely Fuck Me”. They are the opposite of FANG, the Mr. Glass of this story. But they need to go higher if we’re to escape the wrath of the seemingly endless negative feedback loop.
But they’re built to hurt you. You know how the story ends. Villains always lose.
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