This Market Has Sponge Bob Muscles

Earlier today, Exodus flagged oversold, which coincided with a sharp bounce in the broader indices. Even still, this market is 100% horseshit, as our algorithms have decreased in value for 5 consecutive days.

Bear in mind, there are some amongst us who trade tapes like this better than others. As it so happens, you are fortunate enough to have one employed on this site. The Option Addict has been firing on all cylinders and is now taking reservations for his 5 day mini boot camp. I strongly advise you to take him up on this gracious offer and give us your monies.

My largest position is COST. Its been my largest holding, by a factor of 2, for several weeks now. Normally, I do not weight into mega caps like this. I do not run billions of dollars and I tend to gravitate towards high beta. Nevertheless, it’s important to know when you’ve been dispatched and abused by an evil tape. I shot out from a carnivale cannon with long dicked (extra Tyrone) gains earlier this year and have flailed in the wind since then. During this recent respite in stocks over the past month, I made a conscious effort to protect my 20% gains and avoid another meltdown.

Some of my favorite holdings, albeit smaller, are behaving in your typical, ruinous, fashion. Shares of PAH, SHAK, JAZZ and FCX are giving me nothing but fits now, which sort of elates me in an odd way, happy that I was prescient enough to see my own short comings and position into larger cap stocks, like COST and CNC, to offset this fuckery.

Wade through this muck, gents. The market isn’t nearly as strong as it looks, or as easy as The Option Addict makes it look. We’ll most likely mark time from now until year end, ebbing and flowing with extraordinary levels of fuckery. I expect the market to be annihilated during the first two weeks of January.