The Down is down more than 600, NASDAQ -200+. The fear is renewed LOCKDOWNS with the delta variant on the move. The beneficiaries are old man stocks like KR and CLX — the very stocks I am positioned in now. The bigger story is the COLLAPSE in yields. The 10yr is 1.21%. It was just a short while ago when yields were nearing 2% and people were panicked over the price of lumber and overall inflation.
Well, fuck all of that. I did tell you it was TRANSITORY and now with oil down 5% and the entire inflation story up in flames, you are beginning to understand what is taking place here. The only reason why we went parabolic was because of stimmy checks. Now with momentum stocks permanently dead and the specter of RUINOUS lockdowns a few months away, we stand to lose a great deal from current levels.
I cannot suggest shorting here, however, since markets tend to work in peculiar ways and were already down a bunch now. But I will tell you larger cap high dividend stocks is where you want your serious money now.
Because of my smart positions, I am +30bps early going.If you enjoy the content at iBankCoin, please follow us on Twitter