Only oils did well the week which past. Those stocks jumped by 2% — but everything else was dropped into a crevasse. For the month of August, markets are down 3% — which is almost a lot considering the month is usually listless.
I’ll throw out some data via Stocklabs.
If you’re reconnoitering this market in search of treasure — take into consideration that we have, in previous bad summer trading, gone down by 5% before. That seems to be where it sticks the landing.
The losses were innumerable.
Is all lost? Shall we resort to hiding inside our basements or attics? According to the Stocklabs intelligence algos, we should be out there buying and quit being such pussies.
How can I blame the machines? All recent dips have been bought and to think “this time is different” takes courage.
So is it different?
The US 10yr is up above 4% and oil is crushing higher at $82 and gasoline is back to the highs, if that counts for anything. The CEO of PXD said we’ll be printing $100 WTI by Xmas. If so, the FOMC will remain hawkish and hike rates until people start committing suicide.
For me, this drop is an opportunity to get in on a new bear market early, perhaps. They have to begin somewhere. Should markets reverse higher, I’ll simply obey and not in a manner that I did on Friday, when I traded frantically in a flaccid attempt at recovering losses. I will most likely resort of buying stocks at or near 52 week highs and then supplementing those trades with day trades sought by using SL Alpha screener tools, which relays RT movements in all stocks down to a 30 second scale. The way I am able to bag so many day trades is using these tools.
I remain eternally bearish on stocks and look forward to the day when margin calls cut into the bulls like canister grape shot, taking off limbs along the way. The bull class of investor is a very weak and frail group of people and it won’t take much to frighten them back into their tranny penthouses.
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