This fucker is down another 18% this morning. You do realize what happened here, don’t you?
SOMEONE HAS BEEN TRADING ON INSIDER KNOWLEDGE THAT CREDIT SUISSE WAS GOING TO ISSUE MORE SHARES. Hence, the ETN, which magically levitated well above its NAV for God knows how long, is reverting back to it now. There will be plenty of shares to short now. However, there were none available yesterday or months before it, so whoever has been shorting this fucker, yesterday and the day before, must’ve known new shares were coming to market; hence, someone should arrest them and toss them in gaol.
I am going to create a screening tool to track iNAV’s to current price for divergence. When I get the results, I will share it with you to point to potential red flags.
The market looks benign this morning. However, Europe is weak for a 5th day. In other words, we are in the midst of a correction. Do we buy it or avoid? That’s what makes a market and only one party can be right.
Top Pick: EXK
Comments »