When you choose an action, you choose the consequences of that action. – Lois McMaster Bujold
The Brits find it difficult to accept the consequences of their preference to leave the European Union. A group of leading City businesses published a report last night that argued for the mother of all free trade agreements. Such a deal would allow British and EU-based financial companies to sell their products and services without tariffs, taxes or quotas in each other’s markets after Brexit. It looks more and more like the Brits are trying to secure the benefits of an EU membership while getting rid of the burdens. This is probably not the way the game is played…
Apple shares are having a hard time. And they are dragging down the Dow: it closed lower for the third day in a row, losing 0.24%. The S&P 500 (-0.22%) and the NASDAQ (-0.88%) also suffered losses. As a result, volatility was taking off yesterday. The VIX closed more than 6% higher. UVXY ETFs did not profit, however. They closed virtually unchanged: -0.08%. XIV ETNs also recorded a minor loss: -0.15%.
Danny Daredevil‘s RSS remained close to 35%. Adventurous Anny was still holding cash yesterday. Her RSS remained at 4%. Solid Suzy and Lazy Larry‘s RSS is just below 40%.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
Two of our models gave a trading signal at the end of yesterday’s session: Danny Daredevil and Adventurous Anny. Danny switched from UVXY ETFs to XIV ETNs and Anny traded her cash for XIV ETNs at the opening of today’s session.
Gefundenes Fressen IV
Another episode in this irregularly appearing series of pictures of found food. It was the first time Tim encountered Gefundenes Fressen while riding his bike.