FWIW....Fischer was on CNBC yesterday suggesting stay/get long oil, ng and energy in general, although I didn't have chance to pick up on specifics.
FBI Director Comey just announced to Congress that the Hillary email investigation is being reopened due to the discovery of new emails. Fox News says Hillary will no longer receive classified daily briefing that prez candidates normally receive until the situation is resolved......stock market is reacting accordingly.
One should not overestimate just how long and complacent most market participants are right now. The room is full and the door out is small and appears to be jammed.
Did you guys see this? Fisher trying to stay busy down there in Miami eh? I have not looked at the components of this index but 40 names is too big. It should be 8 to 10 names. Too many stocks just becomes broad market index replication.
The market is by and large long stock and long puts. Which is why there is limited follow through to the downside. It's cheap to own downside puts here so it's stupid to not be long them. The long trade is the expected post election pop and the performance chasing trade into year end.
And after reading the Newsweek article on how vastly overblown this latest email 'revelation' is, it wouldn't hurt to be long MXN either.