I was patting myself on the back as I looked at the huge surge in the portfolio today - each and every long position is up, most materially so. Then I went into my watch lists which are literally hundreds upon hundreds of stocks - probably around 400. Excluding 50 or so which are highly speculative I can only find about a dozen that are in the red. It's the buy anything market brought to you courtesy of the destruction of your currency.
The only losers I can find:
- Whirlpool (WHR) -1%
- Fluor (FLR) -0.6%
- General Cable (BGC) -1.3%
- Chicago Mercantile (CME) -0.5%
- Valero Energy (VLO) -0.7%
- Ciena (CIEN) -4.5%
- Sequenom (SQNM) -4%
- Under Armour (UA) -1.1%
- Darden Restaurants (DRI) -1.2%
- Brinker International (EAT) -1%
- Palm (PALM) -0.5%
The other 390 or so? Green.
I mentioned this in 2008 in the opposite direction - there was no need to really talk about fundamentals anymore THEN as the market trades in student body left formation. Now it's the exact same thing but to the upside - wasting virtual space talking about company prospects is futile. The power of algorithms.