90% (my low-balled estimate) of you, the investing public, are herding when it comes to the bond market. You may not know it because the overwhelming psychological atmosphere is to reaffirm, not question peoples’ behavior. That is what herding is; a comforting feeling of going with the flow and being at one with your environment and the greater zeitgeist.
Now, please don’t be offended by the title; you dear reader may well be one of the 10%. But out there in the financial investment realm, they are herding, BIG time, as bond yields are expected to continue rising, because… media; because… “Great Rotation, part 2” and because… the story of epic secular changes and the chance to be early and clued in to a great new market phase are so alluring.
For the many years Slope has been around, quite a few Christmas traditions return year after year (which means, no, you will not escape Santa Claus Conquers the Martians in 2016 either). Here is my favorite Christmas song of all, which means it’s the diametric opposite of The Little Drummer Boy. Thank you, Vince Guaraldi. Today I especially need to hear this!
One of my favorite shorts these days is Jazz Pharmaceuticals. It’s a bit odd for me, since I know the founder of the company, but……….a chart is a chart. I think it’s got a long way to go down from here.
Good morning, Slopers, and welcome to a new trading day.
It’s the same old deal with equities – – lifetime highs across the board. I must say, though, I’m quite taken by energy once again. Take a look of this crude oil chart, and note the circles in particular: