The number “42” had resonance in the financial world a month ago when Elon “I think I’ll ruin one of the world’s greatest reputations” Musk declared that Tesla was going private at $420. Multiple lawsuits and one SEC investigation later, such chatter has of course vanished. Four Two Zero is moot.
For me, the far more important figure is ONE Four Two. Specifically, the support level of bonds (How’s that for a segue?) Break it, and the world is our oyster.
I am tremendously excited to see bonds down but equities down in CONJUNCTION with them, as my portfolio is very slated toward not just shorts, but shorts dependent on higher interest rates.
Not everyone here agrees that the market is heading lower today. But, of course, different opinions are what make a market possible!