Everything about the XOP is screaming “about to roll lower”:
Slope of Hope Blog Posts
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Straight Down!
One would think this morning’s ice-cold PPI numbers would send bonds rocketing higher. Nope, the five-year bear market in bonds (I say again – -why can’t we have a world in which I can type those words about the EQUITY market??) continues apace, as vividly illustrated by the fund TMF, which is the leveraged bullish fund.
Weekend ETF Survey
The Only Steady Winner
It seems to be common knowledge that leveraged ETFs are only good for very, very short-term trading (measured in minutes and hours). I’ve got to say, though, that the ultrashort-on-bonds ETF symbol TBT has been a quite steady performer not just for a few minutes but for five solid months, blossoming into a gain of about 50%.
Anyone who believes in TBT is betting FOR inflation, FOR higher rates, and AGAINST the ability of the U.S. to control any of this. Thus……….winning!
Even with All That…….
Even with weeks of semiconductor stocks blasting higher, and Jensen Huang loudly declaring in Las Vegas that NVDA was going to provide consumers with their very own AI supercomputers (thus leading to NVDA hitting a lifetime high today), the leveraged long ETF for the semiconductor sector (SOXL) is still configured as utterly broken. That shattered trendline matters.
