This has been a slow motion sell off since the 4/20 top. It has been moderately risk off in the old leaders. The new leaders which are energy and materials have been moderately risk on. The overall index is barely down and the VIX while up off the bottom is really not showing any fear yet. Credit has widened a little but as long as oil stays bid I imagine that it will stay tight. Basically watch the dollar as it is trying to bottom. As a bear, I love my individual stock shorts but the overall short of the market is not exciting yet. Bottom line is we do not have any bearish structure yet. We need to take out the 4/7 lows and get a back test before its time to get overly bearish. I expect a moderate bounce here even if we take out the 4/7 lows. The economic data continues to get worse but beware the summer chop.If you enjoy the content at iBankCoin, please follow us on Twitter
Recovering Large Cap Growth PM. How I invest my own money is nothing like how I had to play the insane benchmark game.
Joined May 7, 2014
165 Blog Posts