20 December 2017: Meanwhile in Greece

Greece, the beautiful country in the Mediterranean, was in 2009 the main cause of the European debt crisis. Back then, the country needed the help of the Eurozone countries, the European Central Bank and the International Monetary Fund to bail out its over-indebted banks. The lenders imposed severe measures on Greece, which included the raising of taxes and the lowering of benefit payments such as pensions. Eight years later, the Greek economy is showing signs of recovery. It posted a growth for a third consecutive quarter and the country’s ten-year interest rate dropped to levels last seen before the crisis. Small and medium-sized enterprises and ‘ordinary’ citizens are complaining that they do not profit from the economic growth. It remains to be seen if this problem is strictly Greek and a consequence of the restructuring of the Greek economy. In a majority of the Eurozone countries, average Joes appear to be profiting only marginally from the strong growth of the economy. The underlying problem might be one of the distribution of wealth and income inequality. Think Piketty.

white-chapel-logo-smallStock markets in the US closed slightly lower Tuesday as the US House of Representatives, as expected, passed a bill that would deliver sweeping corporate tax cuts. All future gains had already been added to stock prices before the passing of the bill. The Dow slipped 0.15%, the S&P 500 fell 0.32% and the NASDAQ closed 0.44% lower. As a result, volatility was on the rise. The VIX left one-digit territory and closed more than 5% higher at 10.03 points. UVXY ETFs profited and gained 1%. XIV ETNs recorded a small loss: -0.3%.
For the moment, Danny Daredevil is avoiding the red figures. His RSS climbed to 1.7%. Adventurous Anny is holding cash. Her RSS remained at 23%. Solid Suzy and Lazy Larry took a tiny step back. Their RSS closed at 102%.
None of our models gave a trading signal at the end of yesterday’s session.

Model Holds Start date

RSS

YTD

QTD

AAR

Danny Daredevil UVXY 1 January 2016

1.69%

-74.77%

-27.01%

1%

Adventurous Anny Cash 6 March 2017

22.91%

22.91%

13.28%

30%

Solid Suzy XIV 6 March 2017

102.17%

102.17%

38.21%

143%

Lazy Larry
XIV 6 March 2017XIV

102.17%

102.17%

38.21%

143%

RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return

 

A one-minute strip generator production (VII)

Part 3 of our blog post. The best part to some, the worst to others. Powered by stripgenerator.com and inspired (loosely, ahem) by the words of John Francis Bongiovi.