#Evergrande: “Kill the Chicken 🐓 , to scare the Monkeys 🙉 🙈 🙊”

Evergrander Debts: ~$300 Billion in liabilities. ~7X in 7 Years

Who's the monkey, you ask? 

There are two mainly

Red Hot #Chile 🌶

1. Cascade of cash —$49 Billion— from early withdrawals from the private pension funds established under Pinochet.

(N)#EverGrande… #China's Lehman moment"?

Evergrande currently has $305 billion in debts outstanding. If it implodes, will it be China's Lehman moment?

Sell Rosh Hashanah, Buy Yom Kippur

Perhaps it's Talmudic wisdom but, selling stocks before the eight-day span of the high holidays has avoided many declines, especially during uncertain times. While being long Yom Kippur to Passover has produced 64% more advances, half as many losses and average gains of 7.0%. This past year $DJIA gained 19.9% from Yom Kippur 2020 to Passover 2021.

Jeff Hirsch, editor of the Stock Trader's Almanac, says the basis for this, "Sell Rosh Hashanah, Buy Yom Kippur," pattern is that every autumn, when the "high holidays" are on the minds of traders as many of their Jewish colleagues take off to observe the Jewish New Year and Day of Atonement.., positions are closed out and volume fades creating a buying vacuum. Even in the age of algorithmic, computer, and high frequency trading these seasonal patterns persist as humans still need to turn the machines on and off and feed them money or take it away…

 

See the whole post from Jeff Hirsch on Almanac Trader here: Weakness Day After Labor Day & Sell Rosh Hashanah

https://jeffhirsch.tumblr.com/post/661256615398457344/weakness-day-after-labor-day-sell-rosh-hashanah 

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