So this is really about it be it, lol. For anyone that can argue this - feel free. Fortunately, not all financials are AS bad as $GS looks, but they don't necessarily look great either (technicals, at least). I've been MORE than bearish on financials for some time now, but really $GS is what I've been focused on because the underperformance is just unbelievable. To make it easy, this is the epitome of how I determine a volatile ass correction vs. the start of a real bear market.
2015 - 2016 wasn't a bear market, but solid ass corrections. $BMA for example (2nd largest private bank in Argentina), at this very moment is @ the point it starts a true bear market, or the start of a correction. Old (June 6th) pic -
New pic -
Back towards end of July, I noticed $PFG (Iowa based insurance company) -
Was around April 2018 the performance of insurance groups & (most) banks started to fall off a cliff in regards to performance - think Fed raised rates sometime around end of March, but within a month & a half even $AIG is down -25% since February. Something is obviously going on - not sure how much Turkey or Argentina or even housing would have to do with it, but like I said if you have an argument - I'm all ears.
You can look @ it on chart, but just in case nobody does that off rip, I'll make it even easier.
$PFG 2008 -
$PFG 2009 -
$PFG 2018 -
$PFG - 20?? -
You can look @ it on chart, but just in case nobody does that off rip, I'll make it even easier.
$PFG 2008 -
$PFG 2009 -
$PFG 2018 -
$PFG - 20?? -
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Today I gave myself the task of getting an accurate estimate of WHEN, shit goes down. I'm not a perma bear, but I take TA pretty serious. Unfortunately, I didn't post a comment earlier but I had the date 100% set before the most recent repetitive tariff news. I was betting myself that we'd start bear territory before October began, & after today I think we're right on track. September 25th, next Tuesday - & I'd go as far to say not more than a day before or 2 days after, Goldman Sachs starts its way down to $187. Realistically speaking, I really don't see any difference between the emerging market crisis, devaluation of currencies, Cyprus defaulting on the IMF (2013-2016 range) any different than the crisis that's been going on for some time now. But yeah, next Tuesday. 25th. So.
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Gonna be a fun couple months.
Comment:
This is turning out beautifully
Trade closed: target reached:
One hell of a trade.