Slaughter of the Lows (Junk Stocks)

Well wasn't that different? What happened this morning fairly well predicted what happened in the afternoon. This is from about 10:20 http://bit.ly/42t2mk They were creaming risky stocks then and even more so as the day proceeded. The beta bears won by 180bps (VMO) , 163 bps (PMO), 162bps (large cap) and a whopping 386 bps (beta). Those numbers almost completely erased yesterday's beta bull run. Looking at some funds of interest on Tickerspy big losers were Oaktree, Oakmont and Elm Ridge. Non-tree themed losers included Soros, Deltec and Clinton. On their long portfolios from June. These guys are hedge funds and after over two years I am sure they all know how to hedge by now.

A real bad day for energy as oil went down today? Boo hoo. And banks as we await the end of CIT. But JPM, GE, C, BAC, AOC, Met, etc etc took major hits. Better to be a lessee than a lessor in this market for commercial real estate.