All of the high beta tech stocks and biotech are reverting to their mean today. This isn’t a reason to panic, although I would suggest that seeing the Dow off for an 8th day in a row and steaming for the 200 day moving average isn’t awe inspiring.
Also, we should consider that small cap stocks have been wantonly outperforming large the past few months — typically a sign of excess degeneracy. The last thing I want to do here is overthink and begin to read the news and get negative.
Le Fly needs to mediate and find his inner-zen. Gone are the days when angry Fly would punch holes thru sheetrock or slap people in the face with hot slices of pizza. Now I’m a reformed man, a person who just executed 34 of 35 winning trades in a row.
All that said, I’m hedging here — taking 10% of my cash and buying DRIP and SOXS. This isn’t a bear bet, inasmuch as it is a preventive hedge against a forlorn supplication into a dark and craven world of pain.If you enjoy the content at iBankCoin, please follow us on Twitter