PFF overbought going into Fed Meeting
PFF is a dogshit, overvalued, poorly managed, preferred stock fund. People have been buying it up going into an obvious rate hike on June 13th... Something like a 12 day winning streak.. Y'all know this is fixed income, right? Bagholders about to get dicked on. Lucky for y'all this is fixed income, and volatility is minimal
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Loool played out like garbage on me. Just keep in mind Larry Kudlow is director of national economic council and Donald Trump is president. Preferred market is irrational at historic levels. PFF is not the best short vehicle, but it will fall soon enough. Gotta be careful out there
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Bound to put in new lows. Timing was difficult, but breakdown is here.