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Re: SKF wags the dog?
Cramer is a talking monkey.
As for SKF - don't forget there is its counterpart UYG.
SKF traded 40M shares on 2/20, but UYG traded 215M shares on the same day.
Of course SKF is priced a bit richer...
But the underlying BKX itself also trades heavily.
For example today:
volumes:
SKF: 29.7M
UYG: 193.9M
BKX: 298.6M
JPM: 135.8M
dollar volumes (day volume times close price):
SKF: $4.8B
UYG: $470M
BKX: $7.5B
JPM: $2.95B
Blaming SKF itself makes for nice conspiracy talk, but as someone who is very active with both SKF and UYG (and watches BKX as a measuring stick) - I have seen relatively very little wonky behavior.
In other words - SKF, UYG, and BKX have shown very consistent relative behavior over the past 18 months that I've watched them.
In contrast, SRS/IYR/URE show completely inconsistent behavior even taking into account the distribution SRS had late last year.
For a concise, readable summary of iTulip concepts developed over the past 16 years and a vision of a challenging next decade and how to navigate it, read Eric Janszen's book "Post Catastrophe Economy".
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