Broader markets are down upwards of 6%, making this the single worst start to a new year ever. But beneath the veneer of a pleasant 6% drubbing lies an ugliness only dreamt about in the distorted machinations of Tyler from Zerohedge.
Notable median returns by industry, ytd
Aluminum -26%
Shipping -24%
Tankers -23%
Oil and Gas Exploration -20%
Auto dealerships -19%
Independent oil -18%
Biotech -17%
Copper -17%
Steel and Iron -15%
Solar -14%
The list goes on and on. As a point in fact, zero sectors are up this year, not even gold. Food Major-diversified is the best performing sector, down 0.09%, with leadership in PF and LANC. GLD is up 2.4% and TLT is up 2.35%. Other than that, you’d need to be short or long inverse ETFs to make money this year.
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Multiply those returns x 50. I look forward to buying AAPL and XOM under $1.
This market has flash crash written all over it.
This year is only 7 trading days so far. By the end of the year, who knows what will happen, whether bullish or bearish? So far, it’s just a weird week– or a weird 7 days.
You have an odd view of the world if you think this has been “weird.”
You think this has been a normal un-weird 7 days?