Originally Posted by
Valuegrowth
Sell-off in overbought and overpriced assets intensified during week ending Friday 15/06/2018. Bitcoin, oil, gold and soya bean also followed the trend. Are there any correlation?
Those which went up rapidly within the short run are coming down. May and June sell-off was not limited to developed markets. After Turkey’s currency, Argentina’s peso also tumbled.
Energy companies such as XOM, BP, COP, CLR and WLL were taking some beating while food stocks such as Conagra Brands,(CAG), Kellogg Company (K), Flowers Foods and General mills (GIS) and Tyson foods(TSN) were gradually building and rising their strength.
Market has created opportunity in out of favor sectors thanks to new development and next cycle.