Markets are really strong today and it’s business as usual in SAAS land. The past two weeks have been somewhat ruinous for the sector, following what was perhaps the single best run in years. But now we’ve come to a cross in the roads and you all have to decide where stocks go next.
Here is my SAAS watchlist in Exodus. Many of these stocks I’ve been buying, including ZUO. I just bought that shit like 10 minutes ago.
Even after today’s lift, the average loss of 13% over the past two weeks, making this sector buyable for anyone in search of dips.
On a separate note, I’m keeping my hedges in place — just in case.
Cash is down to just 5%.
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That seems like some super aggressive positioning, I guess it points to your bias. Personally I might fade (with stops, of course) any reaches for previous highs. My order of bias at the moment: sideways, down substantially, up substantially. Not my favorite order since sideways is pretty much nowhere unless you’re a vol seller.