Congratulations stockTARDS. You’ve managed to bid this market up to vaudeville heights, only to quickly abscond with said gains and now you’re trying to justify what you’re seeing in front of your fucking faces.
BEAR MARKET TRADING and the market has shed more than $4 trillion in value since September. According to BofA, equityFAGS fled stocks en masse last week to the tune of $39 billion — a new record.
Aside from the issues with stocks, there’s the unfathomable concern in the high yield markets — an ongoing fuckery of monumental proportions. Speaking of which, an ‘influential’ analyst just took down estimates on AAPL by 20%.
Here are the details.
Slashing iPhone shipment estimate for the first quarter 2019 by 20 percent to a range of 38 million to 42 million (previous forecast was range of 47 million to 52 million)
He estimates 2018 iPhone shipments of 205 million to 210 million.
2019 iPhone shipments will decline 5- to 10-percent from 2018 to a range of 188 million to 194 million
But Kuo’s note is titled, “2019 iPhone shipments likely to be under 190 million units.” That would fall well short of the current consensus analyst estimate of 212 million iPhone units shipped for the calendar year 2019, according to FactSet.
The analyst, known for having close ties to Apple suppliers, cites lower demand for the iPhone XR, the new more affordable iPhone.
“The increase in orders of legacy iPhone models cannot offset the decline of XR and XS series shipments because of the low season impact,” he adds.
What are we to do? Well, I’m gonna get lit up in my stocks and gold today, only buoyed by my TLT position. My quant account will fall in line with the market. I am not immune to the pangs of agony and the horrors of a market, quite possibly, on the precipice of explicit and irredeemable disaster. I am open to the idea of all this ending, unceremoniously, and without pause. I have cash and will chase momentum to the downside, and hopefully I will be fortunate enough to catch the break. The recent trend has been buy intra-day dips, sell intra-day rips — with an acute overnight bias to the downside. In other words, if you’re shorting at the open, you’re most likely going to lose. But if you hold until Monday on the long side, you’re also setting up for capital losses.
It’s a hard market, no doubt. Do not get discouraged by the vacillation, for it too will end one day, soon revealing a very easy to read trend.Comments »