But fear itself.
Aside from the spike in volatility, the market looks okay. Screening for recent winners on dips, with market caps over $500 million, I could only find 39 stocks that have pulled back by 5% or more over the past week. We haven’t seen the leadership names pull back yet. And if they have, the declines are too small to register on any alert bot.
Like the wonderful shares of AAPL, the market is innocent until proven innocent.
Today’s slap in the face of CPST cost me 0.5%. I am not fond of 10% pullbacks and loathe losers like the people from Staten Island ward off sunscreen. Nevertheless, I remain stoically emphatic that we are due for a thrashing, or two, and remain in a 95% cash position awaiting the inevitable. Keep in mind, I do not care about CPST, not in the least. I’ve decided to keep it around, sort of like a dog or a servant, to entertain me for several quarters. I will make real money, from real allocations, whenever I decide to step back in.If you enjoy the content at iBankCoin, please follow us on Twitter