It is early in the day but ugly does not describe today’s action. Screens are beet red…and one thing really starting to stand out. It is the mauling of the high-yield, junk bond arena. We have yapped forever here at this area as the most mis-priced and distorted market brought to you by Mr. Bubble Bernanke…which fed into Wall Street doing their normal leveraging and reach for yield.
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- PRE MARKETJanuary 18, 2018 - 8:17 am
Futures down a wee bit. Wild swings past couple of days. That is something to watch…but strength is strength. I have been asked if I have ever seen this before…to the extent of price, yes. To the extent of no pullbacks, no. Think we are in rarefied air. Not going to add much here. As […]
- RADIO SHOW 1/17January 17, 2018 - 9:00 pm
- PRE MARKETJanuary 17, 2018 - 9:07 am
Don’t worry about a nasty, high volume reversal. We’ll just gap it up the next day. Strong open awaits. I will stay silent about it except to say: I have been taught and have studied that changes in trend often occur with violent action after a large drop in price or after a large rally […]