Is It Time To Sell Everything?
Joe Donohue | Aug 16, 2014 07:14AM ET
With all the alarmist media coverage on Friday the market did just fine for the week. As a matter of fact the NASDAQ flipped the macro jokers the bird and made more highs. Gold is hilarious and did nothing Friday.
The pundits at MarketWatch and CNBC tried to scare you because Soros bought more SPDR S&P 500 (ARCA:SPY) puts. He also bought a crap load more Facebook Inc (NASDAQ:FB) and Apple Inc (NASDAQ:AAPL). Could be a hedge, the more stock you buy, the more you hedge. You have no clue if its a directional bet or not. Soros is betting huge on fracking, but at the same time funds anti- fracking media companies. What garbage noise.
When you figure out what Soros’ intentions are just let me know. I care nary a wit what he does anyway.
The ten year note closed the week at 2.34%. If this keeps up you will be paying the treasury to hold your money. Why not? They’re doing it in Europe. Its the new craze and it’s what all the broken countries are doing. It’s all a puzzle wrapped in an enigma.
The Hang Seng hit a 52 week high on Friday and that market is up about 10% this year.
The etf’s of Germany iShare MSCI Germany (ARCA:EWG) , France'siShares MSCI France (ARCA:EWQ), and Italy's iShares MSCI Italy Capped Fund (ARCA:EWI) look ghastly. The DAX has been getting crushed. Take a look at a chart of Deutsche Bank (NYSE:DB). Looks bad now, but when Draghi pull out the QE blunderbuss out you will wish you bought them down here.
Biotech iShares Nasdaq Biotech (NASDAQ:IBB) just keeps going up and that mid April dip was the buy of the year, up 30%.
AAPL looks like a 100 bucks real soon, then 110.
Patent troll Vringo (NASDAQ:VRNG) dropped 75% on Friday. I never understood why people would expend capital, energy and time with a two buck stock trying to sue Google Inc (NASDAQ:GOOGL) in a raging bull market. So many great setups that were missed.
We are going higher.
Last week my subscribers made the following trades: Biogen Idec Inc (NASDAQ:BIIB) +10%, E-Commerce China Dangdang Inc (NYSE:DANG) +14%, Tuniu Corp (NASDAQ:TOUR) +20%, Receptos Inc (NASDAQ:RCPT) +8%, Arrowhead Research Corporation (NASDAQ:ARWR) +18%, Plug Power Inc (NASDAQ:PLUG) +10%, BioFuel Energy Corp (NASDAQ:BIOF) +8%
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.