yeah, it was a breakout trade, but it didn't carry....4hr chart shows the ftse in more of a range...shoulda reversed the thing!, it just fell apart to 6074
Bought back into LABD around $56.80 this morning... Job numbers were down right nasty ...wonder what Fridays job numbers bring???
That owner went from billionaire to hundred millionaire That's going to happen all over that industry especially to all those who have their wealth in oil and energy production....
One thing to consider when debating whether interest rates would rise or not is the fact that borrowing costs would go up by 50% even if there is a marginal rate increase, how is that going to be serviced? We talk about it being a possibly tiny lift, but in essence in percentage terms it would be huge.
yea, sitting here for so long at zero interest is just getting dangerous and now that there is a downturn globally, raising is also going to be dangerous...its true these first few hikes raise debt service greatly in percentages...50% then 100%. Just when we are at the height of debt in tech/biotech/natural resource/energy plays and they don't want or need higher debt service. They certainly can't issue equity to lower debt..in fact they have been buying back shares (just the opposite of debt relief). The only real relief is debt restructuring or more junk issue. Kinda of a death spiral If you think about, financials are in a precarious situation right now
And that's one reason why the fed can never move rates.... Oh an I forgot to add India cut their rates 2 days ago from 7.25% to 6.75% 2 days ago.... So as the world continues to cut rates the fed is thinking about raising rates ....yea okay...the fed can't do a damn thing. They are stuck....