“The budget should be balanced, the treasury should be refilled,
public debt should be reduced, the arrogance of officialdom should be
tempered and controlled, and the assistance to foreign lands should be
curtailed lest Rome become bankrupt. People must again learn to work, instead of
living on public assistance.” — Cicero , 55 B.C.
And just why would our fate be different from that of Rome?
(this was an email sent to me from a friend who spent 20 years as CEO of Exxon)
It never fails, old people are bummers :).
As I deep dived into the markets this weekend to think about positioning my portfolio, FIVE charts/dat points stood out to me.
2. From an intermediate time frame, the downturn could just be beginning.
5. The Stocktwits50 has only 30 stocks this week that meet the criteria.
The quote from Cicero is ringing true today as our markets pay for the sins of our spending and weak leadership.
There are ways to trade these conditions, but you will have to be nimble.
This week I am trading off Chart 1 which will be to buy some beta if the weakness continues into Monday and Tuesday.