I have bad news for you, which is that if we’re going to judge this on the level, the market is pricing in recession.
I know it sounds bad, but that is just the way things are. This is no longer about the Eurozone; even Greek debt has come back in. The EURUSD is back above where it was. Greece has been bailed out again. The entirety of the Eurozone crisis fears that were occurring at the beginning of this meltdown have subsided…but the meltdown endures.
China took that baton and is running with it. And I am sure there’s a Brazil or Vietnam in the wings waiting for their turn next.
Energy pricing is – collapsing is too weak of a word – I don’t know how to call it. Oil is gone. Coal is gone. Nuclear is gone. Solar is gone. If you’re looking for a leading indicator, that may not be an optimistic one.
I don’t know. For the moment I’ve got enough cash to be composed about this, but these are tremors we haven’t felt since 2011 at least.
If you enjoy the content at iBankCoin, please follow us on Twitter
Surprising you can have composure here with HCLP -8.7% BAS -12% VOC -6% just today alone
Lesser men would be punching walls…
Never let them see you cry…
Interesting to see the insider buys on $BAS, putting up some after tax $’s , never a bad sign.It’s worth noting that several of the insiders at the recently departed $WLT ( now WLTGQ ) did the same in the spring of 2013 in the $19 – $20 range, a couple of million dollars worth collectively.Point being, a global cyclical commodity downturn is a difficult and painful thing to turn around, even those closest to it don’t always get it right, Personally I have started to buy $BAS and it’s heartening to see the insiders stepping up but I wont forget the lesson.
At this point I give up – I’ve bought the best quality, picked companies that are affected by the oil price as little as possible and kept my portfolio weighting in it reasonable but I’m still getting beaten.
People are just selling because everyone else is selling, it’s full out panic.
Half my stuff is Nat Gas which hasn’t moved in months and they still sell off.