iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,723 Blog Posts

THE SAAS SECTOR HAS BEEN DESTROYED

SAAS stocks are down 9% today. That’s not a misprint. NINE FUCKING PERCENT.

The pivotal name in this group is HUBS — down nearly $20 for the session.

Over in the leadership stocks, FAANG, $FB is lower by 40% from the highs. The entire groups is heading into bear market turn over the past 3 months.

How do we dig out from here?

As I’ve discussed before, bulls have two magic bullets — but Trump needs to deliver.

1. A China trade deal will cause a furious rally.
2. Fed pause in response to market conditions will make Powell Goldman’s bitch. This is a good thing for markets.

Other than that, the trend is lower. The data is good, but deprecating. Watch leadership stocks and sectors for a tell. I’m betting on a Fed pause, which should help start a furious rally in bonds.

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3 comments

  1. ferd

    “will make Powell Goldman’s bitch”

    Make? …Fealty to the boss is a hiring requirement.

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  2. indie

    SOXL a day too early…

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