It’s 3am and I’ve been driving all night, so I’ll make this somewhat to the point. Last week I closed out my gold positions. I did so because…well, I’ll let me Exodus post speak for itself.
After booking my gold positions and watch stocks lift, I highlighted how overbought the market was, according to Exodus. Bear in mind, I’ve spoken about how overbought signals do not equate to immediate pullbacks before. As a matter of fact, Exodus overbought signals are better signals for stocks to rise, probability wise, than our oversold. However, there are levels to overbought heights and last week we reached a high point, the ebb tide.
Here is just one case of how stretched markets are, using only the basic resource sector as an example. The oscillator is our hybrid score model overlaid and specified for this particular sector. As you can see, these heights do not last very long, indicative of potential weakness in the not too distant future.
Lastly, I reu laced 16 names in my Bubble Basket, which is an index of stocks I deem shortable, a key barometer of risk that is readily tossed into the fires during periods of stress. This index is off by 17% for the year.
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There will be no pullbacks.
Entire net worth in $SOXL.
Let’s ride, fucked faces.