This morning’s tape is crap. Therefore, it’s a good time to look at what’s working to try to make sense of this world.
First off, you have money rushing into bonds. TLT, PHK, LQD, PCY come to mind. Everyone is talking about TLT; but PCY (emerging market debt) has performed better. My favorite bond play is high yielding PHK, paying out .12 monthly.
Then you have the annoying big cap tech flight. Naturally, CSCO is up post earnings. Then you have AAPL, SYMC, INFY, SNDK, ORCL, QCOM, T and just about every foreign telephone company traded.
ZMH, HCN, MNST, TAP, LO have all been performers. But the breadth of the good stocks has been steadily eroding to the point where it makes sense to stop trying.
The ASCO conference is ongoing, so expect to hear about some clinical trials soon. That might put a bid under the market. By no means should you delve into high growth money losers, hoping for a bounce. With breadth worsening, you risk blowing your balls off with just one trade.
I am fairing poorly this morning, off by about 0.9%.
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“you risk blowing your balls off with just one trade”
-Only the Cp’n could deliver a line like that, even in the midst of a friggin gorilla raping!
it’s going to be an ugly day today. Tepper sell off
ecb will eventually anticipate bonds buying ( via printing liquidity )
just my 2c
SELL SELL SELL
This is the first year since 2008 Partridge and his dog is very very very short… long bonds of course…. that is what we do.. all trades in real time.
So are you short long bonds? Or “short” via playing long bonds on the long side? Think the former but your writing isn’t a model of clarity.
I am long bonds … ladders and short stocks
Thanks …
3 hours …6 replies…..is it time to head to the Hamptons?
Sadly everyone is in the hospital trying to stop this blooding… will see how we close.
Tepper sings a love song to the bears who swoon with selling passion. I however feel very violated, wishing I had gone more cash.