iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,593 Blog Posts

ALERT: Retest the LowFAGS Out Cavorting Amongst Normal Civilians

You have to know these people exist, if you’re gonna play the game. No one knows why we must retest the lows, only to resume straight up — but we do. We always do.

“This is the second decline of this year of 5 percent or more and two out of every time we had more than one decline in a year, the second decline was sharper than the first,” Stovall said. The S&P 500 dipped to 2,710 last week, a 7.8 percent decline from its all-time high in late September. In February, the S&P was down nearly 12 percent at its low.

“There could be a test of the lows. I’m not surprised that tech, consumer discretionary are leading the way [higher] because they led the way downward,” said Stovall. He said if there is another flush out to lows, it could come before the Nov. 6 election.

Markets are getting punished and I sold NEPT and YGYI — getting caught in a FUCKING SECONDARY on the latter. Whatever. I’m 15% cash now, heading for a sandwich break. While I remain bullish and believe the lows are in, I am not convinced the retest the lowFAGS will go away so soon.

BEWARE.

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One comment

  1. heckler

    Mental insanity moves in the pot sector nearing completion.

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