Apocalypse Now (Again).
Well for those who had their doom bunkers all prepped and ready, there’s “good” news on Tuesday – the apocalypse is back on.
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Hey! What’s With All This Hedging?
The takeaway: if you’re long and unhedged, one of two things must be true. Either you know something everyone else doesn’t or the other way around.
You Should Have Just Gone To The Bar.
Generally speaking, this week’s theme (reflation back on in the U.S. as stocks, the dollar, and yields all rise in tandem) held, as there was no news “bigly” enough to change the narrative.
Since 2001…
These concerns have found expression in cautious notes from Goldman and lengthy missives penned by the likes of Howard Marks, who in July implicitly compared the current environment to the “perpetual motion machine” that was at work just prior to the dot-com bust.
Dip-Buyer’s Paradise: Stocks On Track For Best Streak Since May
Time to give some more money to your local Target manager.
Mutual Funds Will Do 2 Things: Pile Into Tech, Fade Donald Trump
“InformationTechnology has been the primary driver of above-average fund returns versus their benchmarks in 2017 (Exhibit 5). The average large-cap mutual fund is overweight Info Tech by 144 bp, the largest overweight across all sectors.”
4th Grade Press
And just like that, all of the good news trial balloons we got from McConnell on Monday (debt ceiling guarantee) and from Politico on Tuesday (tax reform moving ahead) were rendered null and void…
Dip-Buyers Assemble! Stocks On Pace For Worst Month Since October
“Make inexorable rallies great again.”
Here’s Why Equity Hedge Funds Had Their Best Start To A Year Since 2009
Spoiler alert.
Chart Of The Day: Nasdaq Has Worst ‘Bad Breadth’ On Record
Yuck.
‘Now That’s Some Dip-Buying!’ Tech ETF Got $1.5 Billion In Inflows Tuesday
“…but I do know who’s not afraid: Nasdaq-buying E*Traders, dammit.”
Requiem For A Crisis.
Kind of makes you think…
Selloff? I Hardly Knew Her.
And now back to your regularly scheduled rally.
The Trump Trade Is Dead – But Long Live War
So you know, he’s got that going for him…
Ezekiel 25:17
“And you will know my name is the Lord when I lay my vengeance upon thee!”
