Seeking Alpha
  • Michael A. Gayed
    Massive fear in sector movement. Utilities XLU, Staples XLP, and Healthcare XLV all outperforming very strongly.
    12/21/11
    Reply (29)
    • sean.parmelee: Now that Fall is officially over, you can safely predict a winter meltdown without contradicting yourself.
      12/21/11
    • Michael A. Gayed: actually...glad you mentioned that. I'm taking a very different approach to Winter - coming soon.
      12/21/11
    • Demi9OD: Russel is under performing here as well.
      12/21/11
    • Playing the Ponzi: Yet VIX continues to register no fear.
      12/21/11
    • dieuwer: TIP/IEF ratio up
      12/21/11
    • dieuwer: TLT:SPY down
      12/21/11
    • dieuwer: So, bond markets say: inflation coming, but defensive issues outperform the broader market, while VIX stays low.
      12/21/11
    • dieuwer: My conclusion would be: people are looking for yield to shield from inflation.
      12/21/11
    • Playing the Ponzi: EEM:SPY also continues to churn lower
      12/21/11
    • dieuwer: EEM:SPY -0.7%....to early to draw conclusions.
      12/21/11
    • dieuwer: Yield of XLU almost double that of SPY. Not surprised it outperforms. People looking for yield to shield from coming inflation!
      12/21/11
    • Playing the Ponzi: I see the market still signalling fear of deflation - even with the real and implied printing from Fed and EU...
      12/21/11
    • Playing the Ponzi: TLT:SPY remains above rising trendline (starting after first pullback in August - trendline's been hit 5 times... about 5% above trendline)
      12/21/11
    • Playing the Ponzi: EEM:SPY has been trending down for the entire year... may be a bullish wedge at some point, but not signalling world growth at this point.
      12/21/11
    • Michael A. Gayed: Playing the Ponzi - starting to sound like me :)
      12/21/11
    • Playing the Ponzi: Yeah, based on my impression of your view, I think I hold many of the same longer term views.
      12/21/11
    • Michael A. Gayed: Keep in mind my view is shaped by market expectations. What I think does not matter. Only matters what person I'm selling to thinks.
      12/21/11
    • dieuwer: Hahaha! Michael shows his true colors!
      12/21/11
    • Michael A. Gayed: ?
      12/21/11
    • dieuwer: "Only matters what person I'm SELLING TO thinks." Just like Goldman Sachs ;)
      12/21/11
    • Michael A. Gayed: Person I'm selling to sets the price, not me. I'm making a practical and logical statement.
      12/21/11
    • dieuwer: Ok, so what are you selling then?
      12/21/11
    • Playing the Ponzi: I agree. Certainly outlooks change w/ info. EM's are interesting because they have reverse H&S in place, yet continue to hint "risk off"...
      12/21/11
    • dieuwer: the words "risk off" are over-used, while "risk" is not properly defined.
      12/21/11
    • dieuwer: e.g. risk of loss of capital? risk of loss of purchasing power? can be two different things.
      12/21/11
    • Michael A. Gayed: That's a whole different debate. Risk is only known with hindsight.
      12/21/11
    • Playing the Ponzi: dieuwer, I am using the MSM variety of "risk", referring to whether you want riskier assets or not. I agree it's a poor use of the word.
      12/21/11
    • Robin Heiderscheit: Hold your nose and pound the buy button.
      12/22/11
    • Playing the Ponzi: ...on SPY puts. Wow, are they on sale.
      12/22/11