Talk about your red herring. There so many reasons to sell equities right now, everything EXCEPT Brexit. Who cares. Remember, the UK has its own currency, it is not part of the EU finance mechanism. It crossed that bridge a long time ago. Next time you look at the Gilts and compare them to Bunds or Oats, you will see why the UK is not really a part of the EU, although officially it is.
It never ceases to amaze me how the financial community will choose the most trifle things and make them into the next potential crisis. They did it with Grexit. They did with numerous debt ceilings. And now they are doing it with Brexit. The unfortunate thing is that you can't really take advantage of this event, other than shorting after the relief rally of the Brexit uncertainty being over after June 23. That relief buying will be very brief, because we are at the point in this rally where we will chop till we drop, not 5%, but more like 15%, a la August 2015, and January 2016.
Gotta stick with the short side till we get that waterfall decline. Short the Fed dovish rally. Short the Brexit non-event relief rally after June 23. Etc. Etc. STFR.
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