Submitted by Nick Cunningham via OilPrice.com,
Low crude oil prices since the second half of 2014 have created a boon for consumers as the cost to fill up at the pump has plunged. The extra cash in the pockets of millions of motorists is often likened to an unexpected tax cut, which could help stimulate the economy.
Perhaps more than anyone else, we’ve been keen on documenting the rise of subprime auto loans.
Over the course of the last 12 months, data from Experian clearly shows that underwriting standards are falling in the industry as competition for a shrinking pool of eligible borrowers heats up.
But they said "never sell" - FANTAsy stocks are in trouble with FANGs down 11.5% year-to-date and Tesla plunging over 17% since the holidays... the last pillar of US equity market strength has officially broken...
FANGs FUBAR...
FANTAsy F##ked...
Dow dumped...
The market is open, and we are selling.
(click image for large legible version)
Why has STFR become the new BTFD? Thank JPM:
Something has definitely changed in the market: while for the past seven years (a period largely coincident with an easy, ZIRPing or QEing Fed) every day would be greeted with numerous research pieces, all urging traders to buy the dip, and to otherwise stay invested in stocks, now all the equity firms have turned their back on the S&P, and first Goldman, then JPM, then UBS, then every other equity trader has urged clients not only not to BTFD any more, but to STFR.