Cougars for the Win

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While you immature heathens chase around drama queen broads in their early 20’s, the ChessMaster is pimping the cougar MILFs today, i.e., old stocks like CSCO and DELL. Given the sell-off we are seeing this morning, the mega-caps are not such a bad place to hide. CSCO reports tonight, which may or may not require me to call an audible, so to speak (more on this later).

After an oversold bounce the past few days, the energy/material complex is leading the way down today. As I indicated on my video recap last evening, those two areas of the market were the most at risk in terms of how shaky their technical outlook was. However, there are other areas of the market that are not only hanging tough, but also have far more constructive technical pictures, such as tech, retail, and REITs.

As I write this, I see there is a struggle on the S&P 500 for the bulls to hold 1348. If the bears can breach that level, we are likely to see more selling. On the whole, I am in wait-and-see mode right now, not in a rush to add exposure in either direction just yet. I am quite content with my cougars.