Once there lived a bull. He lived at a farm, somewhere in the mountains. His life was mainly carefree. He enjoyed the circumstances at the farm: there was juicy grass in abundance, his owner was a kindhearted person and he had a nice shelter in which he could hide from bad weather. And most of the time, the sun was shining. As far as the bull was concerned, there was nothing that was threatening his calm and regular life. Rumor had it that there were bears living in the mountains. And that there had been times in which they attacked cows. But the bull could hardly believe that. He had never seen a bear and not even heard a single growl. He bowed his head and took another bite from the irresistible, juicy grass.
Suddenly, something fell from the sky. Nobody had seen it coming and nobody knew what it was. But it fell right onto the bull. The bull was dead.
What’s new? All major US indices closed at records highs. The S&P 500 gained 0.12%, the Dow added 0.09% and the NASDAQ closed 0.04% higher. Volatility was directionless for most of the day: the VIX took slightly off at the end of the session and closed 1.26% higher. UVXY ETFs recorded a small gain: + 0.71%. XIV ETNs closed somewhat lower: -0.20%.
Danny Daredevil was the winner of the day. His RSS closed at 36%. Adventurous Anny is still holding cash. Her RSS remained at 9%. Solid Suzy and Lazy Larry took a tiny step back. Their RSS stands at 49%.
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
Every year, Tim and René visit the Belgian village of Doel in the Flemish province of East-Flanders (see our blog post of 7 July last year). Once inhabited by more than 1,300 people (1972), it has now been abandoned by almost everyone, due to the planned future enlargement of the Port of Antwerp. According to this plan, Doel will be completely leveled, so that a dock can be built on the spot. In the summer of 2004, Tim and René paid their first visit to the doomed village, which still counted more than 400 inhabitants back then. Tim and René envisioned to respectfully document its demise in a series of photographs, over what they thought would be the last years of its existence. But after more than a decade, the government plan is still nothing more than a plan, and the fate of Doel and its remaining twenty inhabitants remains uncertain. This does not stop Tim and René from visiting every year. They are planning their next visit some time later this year.
While digging through his digital photo archive, René found the picture below. He took it in the streets of Doel in October 2012, exactly 5 years ago. The last sleeping bull, immortalized by a street artist.