This was a momentum memorial, laying to rest all of the cool kid stocks–causing the longs of those stocks to simply give up and capitulate.
Look at the losses amidst many of the favorites, like PANW, CRM and LNKD.
This comeuppance was inevitable. The playing field is in the process of being reset. In all market squalls, opportunities arise. The same narrative is being written now. At some point, there will be a series of sublime entry points; but we’re not there yet. If you recall what I said about 2008-2009, following a hard January, in both years February fell hard too.
If you’re looking to buy bargains, wait for February to mature and then take a stab when people are throwing themselves down open manholes.
To summarize my position: I have been 75% cash/25% TLT for a week. I am trading the oversold signals inside Exodus, exclusively now, with SPY being my weapon of choice. We’re not oversold yet–thanks to the intuitive nature of the algorithms. Having learned from the recent declines, the system’s oversold threshold is now deeper, which means stocks need to get really scary for it to spit out an oversold signal for the overall market.
It’s ridiculous to believe the Fed is still in play. The speculation game is cruel and unforgiving. But this Federal Reserve hawkish position is a gift, if you think about it for what it is. They’re telling you to sell stocks. Stop fighting the Fed and understand that having a robotic long only allocation is 2013 thinking. Get flexible or risk being eliminated from the playing field.
Cheer up. It’s only money.
Reminder: Get aboard the ark.
FIG
Esther be the one, she’s the only one
She’ll get you with her gun
When the wolf starts howlin’ at the moon…
zz top / fomc
Will we be higher or lower 10 years from now?
without question lower
Got handed my butt today. Should have heeded your warning.
1880.02
They are still controlling this thing. to keep everyone in or maybe waiting. i believe 1880 was aimed today
Like i believe the shanghai was, purposefully, bubbled to allow a pinprick. which. did. occur (jan 4)
Nas? yeah. all those days end of ’13 early ’14 watching nonsensical ridiculous tech forever rising
Easily fishy along with nosale biotechs that when I added my TECS a year later BIS. they controlled up
means they can time selling of everything they bot, as, well
1880.05
shit
I forgot the . . . at the end as well
Showtime, I can’t believe it was that STUPID 1880 which we ended with. We have to break it! Lucky China is closed next week, and there is no restocking….should get really ugly.
Is there room for horned whales aboard the ark?
In the ark.
The ark will save you from the floods.
Fly is right. Don’t fight the fed. The fed knows that china is a mess. They know the european union is a mess. They are telling you to sell stocks. Come on in the ark. Its warm. Eat a sandwich. And bring some beer. (getting low in here.)
The US pays its debts. It will remain the currency for any transaction worldwide.
(You can probably buy a coca cola with a dollar bill in a war torn place like Syria but whatever merchants are there…probably will not accept renembis.)
there’s only room for 1 frog
sorry
Not normal action.
What’s not normal about it? Would you say that if we went up 300?
Have you been long lately? A lot of stocks do not go down 90% in a year or 40% in a day. Resets are rare. Not normal action..
OH NO, we will have 10+% decline from the top? How WILL we survive?
I’ll be a buyer of SPY under 180 and even more under 175!
Well many stocks aren’t just down 10%?
Now you know what to stay away from
Which index are you calling we? You do realize the S&P is already down about 12% and the Russell nearly 24% right?
BZH must’ve been a bad kid
Call me crazy, but I’m back into AMZN if it picks up a 3-handle. Glad to see the bear has moved on to tech, which I don’t own any of.
Not only is SPY not oversold yet, it’s actually nowhere close to being oversold, having spent the last couple of weeks alleviating this condition.
Was Zerohedge must have been playing with himself in the shadows all day.
Cramer’s buy list just before the dot com implosion in March 2000
http://linkis.com/www.thestreet.com/st/FUpr4
Reminds me of his anointing of the FANG gang last year
Whenever Cramer makes up a new acronym for a group of stocks, it’s the sign of a coming correction.
Is Gold gonna run?