Investors like certainty, predictability, tranquility. A bomb that is more than 30 feet long, that weighs more than 21,000 pounds (including 18,000 pounds of explosives) and that obliterates everything within a 1-mile radius of where it detonates is the opposite of all that. And there we have the reason why markets are shaking to their very foundations. Major indices around the world are down, volatility is on the rise. It is very likely that this Mother Of All Bombs will reverberate for some time.
U.S. market indexes were lower Thursday, due to continuing geopolitical tensions. The Dow recorded a loss of 0.67%. The S&P 500 was down 0.68% and the NASDAQ was 0.53% lower. The VIX continued to increase with the market’s losses. For the day, it ended at 15.96 for a gain of 1.20%. For the week, it reported a gain of 24%. UVXY ETFs gained almost 4%. XIV ETNs lost almost 2%.
Danny Daredevil added another profitable day to a long string of such days: his RSS rose to 522% and his AAR stands at a very solid 315%. Adventurous Anny is holding cash. Solid Suzy and Lazy Larry recorded another loss and their RSS slipped to almost -6%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
René visited his parents yesterday morning to attend Easter brunch with the family. Before brunch started, over coffee, his mother asked him to disable FaceTime on her iPhone, since she had come to prefer WhatsApp for multiple reasons. A no-brainer, René thought: Settings, FaceTime, switch the slider to the off-position, done. He then tried to make a FaceTime call to his mother’s iPhone, in order to find out if the unwanted feature was indeed silenced, which appeared to be the case.
In the evening, René received a FaceTime video call. It came from his mother’s phone. René raised his eyebrows and answered the call.
“You are calling me?”
“No. You are calling me. And how come, I disabled FaceTime on your phone, didn’t I?”
“Yes you did. I don’t understand what’s happening here.”
“Neither do I.”
Steve, we know that you want nothing more than to see people stick to your products and services, but there are other ways to express your discontent. This is freaking René out.