Tuesday, June 28, 2016
THE PREMARKET NEWS YOU NEED TO STAY ALIVE: here's what nobody's talking about except me
And this morning, Germany and Paris are both up >2%; USD is down against CAD, GBP and XEU; and oil is back up, which should also boost US stocks for no good reason.
So I guess what we saw was just a 2-day selling snit, which was the obvious market reaction to the Brexit vote. And since it was so obvious, the buy side of the book decided to disappear, making the selloff worse than it should have been. And now people are jumping back in, buying the equities that got sold down.
I'll let Wall Street Whitey give me $50 for the Magna that I bought yesterday at ~$44.50, and if they make me hold til after the next dividend then so be it. As for all the XIV I bought yesterday, I think I'll try and hold that for a 5-figure gain, since I have this year's tuition bill coming.