These Dutch Guys consider themselves contrarians. If the markets go left, they have a tendency to go right (in both meanings of the word…). Yesterday, a fellow contrarian, Dennis Gartman, expressed some of his views on the current state of the markets. His words speak for themselves:
- “The bear is upon us, we fear.”
- “Today’s “universal” weakness…only a week from the global market’s all-time high… is a harbinger of further material weakness we fear and sets the stage for the start of what we fear might well be a bear market of some serious vintage.”
- “The equity market, by its very definition, anticipates the change in the economy, rising before the economy rises and falling before the economy falls. We are at the latter tipping point. It has been months in the coming, but it is here [..].”
US stocks closed lower Wednesday, with both the Dow and the S&P 500 suffering their biggest one-day percentage drops since September. Falling oil prices and worries over the progress of a US tax overhaul were to blame. The Dow fell 0.59%, the S&P 500 closed 0.55% lower and the NASDAQ declined 0.47%. Volatility was strongly on the rise: the VIX gained more than 13%. UVXY ETFs tried to match that figure, but had to settle for a rise close to 8%. XIV ETNs lost almost 4%.
Danny Daredevil is having the time of his life: his RSS rose to 45%. Adventurous Anny is still holding cash. Her RSS remained at 23%. Solid Suzy and Lazy Larry took a major step back. Their RSS dropped to 55%.
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
A one-minute strip generator production (V)
Today, a one-minute strip generator production especially for lovers of movies and/or Piet Bambergen. Powered by stripgenerator.com and a trip down memory lane.