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Homebuilders And High Yield Suggest All Is Not Well Today...
The schizophrenic good-is-good, "we dont need no stinking Taper" market action earlier seems to be hitting a small road-bump. Interestingly, homebuilders and high-yield credit was flashing some early-warning signals... with S&P 500 futures hovering back at VWAP, the noise from the rest of the risk-asset complex suggest there is some more downside for stocks here.
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The employment report said that mortgage companies added 3,000 employees last month. that is going to reverse, big time, next month.
Ghost you are back!
Yup, was just going to say.....man, we feel pretty old here guys...but we are still here and the central banks are still kicking the can down the road almost FOUR FUCKIN YEARS later!
Didn't ZH recommend 3x HYG and -1x SPY just the other day (to arb the 9 sigma difference)? Ouch. I made some good money shorting GDX and I used some profits to short JPM.
Good to see Ghost posting, yep, we got a 4 year anniversary coming up. I wonder how many others there are of this vintage left?
Really learned a lot about the world in those 4 years thanks to ZH and learned a lot about myself as well.
ditto
Not a chance of it reversing next month... they will probably have to hire even more people to take all those keys out of the envelopes that are going to be mailed in...
alberta added 19,000 new jobs last month, all time record in its history but still saw a 0.4% unemployment increase because of new residents moving in were greater.
i need 4 experienced framers for 6 months work can't find any
All is not well everyday with these markets. The patient is terminal and the only thing keeping markets alive is Bernanke's life support.
I agree...but a zombie keeps lunging forward even though the soul is dead....we need to sever the head, Federal Reserve Head, Bernanke.
The top is in. Every ramp exists solely as a means to off load positions at a higher price. They will all be faded.
S&P is going to need a ton of Viagra for that whiskey dick, or maybe it should just pass out already.
Philly Housing Index currently sitting at 192 - and is likely heading much lower.
http://bullandbearmash.com/chart/daily-philly-housing-index-shows-wave-c...
That is one limp noodle there. It looks like it should have taken the blue pill.
Smoke screens of all-is-well stawks is all they need anymore.
This will be faded next week. Rest assured.
Things will improve after 2017 with Hillary in charge. Those Clintons are good honest folk
Apparently you are too subtle. Honest Bill, the guy who shoe-horned China into the WTO so Walmart could accelerate the destructiono of middle America.
look at TBT - either a double top @ 69.60 or blast off
tbt should be up more. we should be pushing 2.20% on the 10yr.
good volume in May - most from May 22 - almost 8 million