Although I’m a fan of the God Emperor Trump and pray to the Gods every night that he’ll cast his enemies into the black sea to be devoured whole by monsters, I do not think any of the recent rally will hold — when people finally come to grips with the fact that status quo is dead and Hillary Clinton is going to prison.
Stocks receded a bit today — lending to a sharp rally in gold — the best in many weeks.
My favorite gold plays are the ones that I own: $AU, $AUY, $ABX and $GLD.
Bonds rebounded. Have a look at $TLT and $ZROZ. And banks got hit, rightfully so. I am short $DB and $LFC.
With yields coming in, the biggest outperformers were in the defensive stocks that have been working all year: utilities and REITs.
Stocks like $NRG, $ED, $TAC, $DUK and $AES led the utes, while $AVB and $PSA outperformed in the REITs.
The single best way that I am able to describe risk on v risk off is through the Exodus old man portfolio v the bubble basket. The old man traded down by 0.32%, while the overvalued shit in the bubble basket was down 1.8%.
Notably, the biotech sector was ravaged today — a place of magnanimous profit ever since Hillary was defeated. Biotechs traded down 2.7% as a sector — led lower by $SGEN, $ALNY, $RARE, $ICPT, $BLUE, $PRTA, $ALDR and $OPHT.
Ouch.
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With no foreseeable replacement for the Affordable Care Act, people are realizing there is no one to buy the drugs these companies are selling.
Regulations aside- if you don’t have a customer, you don’t have a sale.
You think Munis are a buy here? Sure look tasty…
yes
Gold is going to $1000.