My old man stocks are doing great: KMB, CHD and PEP. Everything else is in super-dive mode. Risk appetite is nil; but don’t let one bad day shake you out of everything. I am scrapping my earlier idea of starting a new position today, which, by the way, was PCS. I am getting fucking hammered in a number of my holdings. If it wasn’t for my 40% cash position, today would have been a death knell day with EXK, YELP (now all but sold out), JCP, CPST, MOS and RBCN hitting the bricks.
Thank god I sold out of CMI the other day. It is imperative that you cut losses quickly, especially in names that are sensitive to global “de-growth.”
All of the data coming through the pipe is pointing to global recession. If we were to price that in, without a doubt, the market would trade down to 10,000 and below. However, thanks to the Federal Reserve and their fucking printing presses, stocks have a bid. Make no mistake, without that bid, we are in fucking trouble.
In short, I am getting punched in the nuts, but only 60% as bad as the guy fully invested.