Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 670.21

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To: GROUND ZERO™ who wrote (109727)	8/15/2018 12:13:13 PM
From: John Pitera	1 Recommendation Recommended By POKERSAM Read Replies (2) of 218500

the SOX suck.... all of 2017 they marched upward the way Qualcom did in 1998 and 1999 you could never get either one of them below their 50 day MA. and that has undeniably changed... I picked up a small short in NVDA.... as really believe they are going to disappoint on their earnings call on thursday afternoon... ... the overall contagion is spinning of in different directions..... I was looking at the European banks which are all down again today... and the EURO has a 1.13 handle on it today... Turkey imports lots of Oil and its going to triple in price..... There are a number of emerging market companies that have borrowed in cheap USD . interest rates when rates were low and now they are getting severely burned are rates are have moved progressively higher and the USD has had a huge rally again emerging market currencies. You know the EUR was at 1.24 in April 2018...... it's down to 1.13 and ... there are realistic price projections that have it going down to 1.05 that is going to really hurt borrowers of USD denominated debt.... as well as European bank assets are denominated in EUR... and HSBC in GBP..... and their net assets melt away as the currency declines unless they have been precient enough to entirely hedge there holdings..... but even doing that is very expensive as you are paying the huge interest rate differential of over 200 basis points. John

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