As we busy ourselves reliving the madness of December 1999, let us consider a “brown shoot’ in the form of Federal Express, which has lost over 10% of its value instantly because of the trifling nuisance of actual business performance and projections as opposed to, let’s say, Janet Yellen’s latest criminal scheme.
Thus, anyone who ships anything is feeling the hit as well, such as our old favorite UPS.
In fact, I’m more fond of UPS as a long-term short play than I am FDX.
As the moment, for the first time in a decade, the equity futures are down this morning. This, couple with the fact that it’s raining hard where I live, has got my day off to a good start. I’ll see ya soon.
