Over the past few months, through empirical observation and interview, one can sum up the differences between the ‘mask wearers’ and those who don’t or refuse.
Mask on Mask off
Rule followers Entrepreneurs
Wait-and-see Action oriented
Mediocre Driven to excellence
Buy the dip Sell the rip
All in this together You’re on your own
Whenever it happens, the next leg lower will rip off the mask of rule followers; exposing their false belief that a little piece of paper will keep them safe.
Remember Neville Chamberlain waving his little piece of paper?
‘I give you the peace of our time.’
One of the markets set to continue its collapse is commercial real estate. The tracking ETF, IYR, just broke out of a wedge pattern to the downside.
The coming week(s) may see an upward test of that break; with a potential reversal and continuation to lower levels.