Sorry for the late post. I’ve been very busy with family related issues.
I could be reading this wrong, but I doubt it. Today’s market rout is extraordinary in that it is targeted against the winners — especially tech, in particular SAAS. This is what you’re gonna want to do now: SELL.
I sold a variety of stocks, mostly for losses, and upped my cash position to 65%. In my Quant, it is 100% long and that’s just the way it is. However, it isn’t getting mangled like tech today.
Watching my Bubble Basket, you can clearly see the highest valuation names are being stomped out — down by more than 4%.
Don’t get bearish. Don’t get bullish. Perform as an operator and raise cash.
These are my sales:
Sold $DATA breakeven, sold $MEDP breakeven, Sold $YY -4%, sold $TENB -6%, sold $TRHC -12.3%, sold NEWR -6.66%.
If markets bounce and tread higher, fine. I have plenty of stocks to buy. But if I’m right and this is only the opening salvo into what could become a truly horrific September, you’ll thank me for this post that convinced you to get defensive.
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Big Tech is on capitol hill, but only TWTR and FB showed up. GOOG is a no-show and some Senators on Senate Intel Cmte are pissed.
Goog is above the law and everyone knows it.
50% cash going into Sept
They’re going to make a big deal out of any pullback just to bash Trump for the election cycle.
To me they’re in bed with them.