Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Sayonara, SPY. And Hello, Recession-Resistant Monthly Divvies. By: Contrarian Outlook August 07, 2024 at 05:00 AM EDT Well the “index huggers” hurled their positions quickly, didn’t they! Some bad jobs numbers. A rally in the Japanese yen. And it was sayonara, SPY. The financial “squares” use blunt instruments. When they panic, they dump the only ETF they own. Turns out they were all short the Japanese yen heading into the weekend! When the margin call came, they sold the only ticker they own: SPDR S&P 500 ETF Trust (SPY) . I warned you about SPY three weeks ago , just before it crashed. My problem with SPY came down to three stocks, Apple (AAPL) , Nvidia (NVDA) and Microsoft (MSFT) , which made up 21% of the index—and still do! … Read more Read More >> Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Sayonara, SPY. And Hello, Recession-Resistant Monthly Divvies. By: Contrarian Outlook August 07, 2024 at 05:00 AM EDT Well the “index huggers” hurled their positions quickly, didn’t they! Some bad jobs numbers. A rally in the Japanese yen. And it was sayonara, SPY. The financial “squares” use blunt instruments. When they panic, they dump the only ETF they own. Turns out they were all short the Japanese yen heading into the weekend! When the margin call came, they sold the only ticker they own: SPDR S&P 500 ETF Trust (SPY) . I warned you about SPY three weeks ago , just before it crashed. My problem with SPY came down to three stocks, Apple (AAPL) , Nvidia (NVDA) and Microsoft (MSFT) , which made up 21% of the index—and still do! … Read more Read More >>