I think tech needs to dominate in order to truly bottom. What we’re seeing today might be a head fake, sucking fuckers in like Noo-Noo from the Teletubbies, only to later on rake them over the coals and crush them.
Breadth in tech is 73%, impressive, but not so much.
A look at tech today, up 0.6%.
What we want to see is a slow boil and then a fucking explosion of perversion — bulls running naked thru the streets having a grande old time. You can either bottom that way, slow boil, rounding bottom, or V shape — which is often paired with a news event.
For example: if Trump said he was going to sit down with the ABSOLUTE FUCKHEADS in China about trade. That would cause a 1 thousand point rally.
Either way, up is good — but do not be fooled by the gyrations. I have a slew of inverse ETFs now, all up from my basis, but lower today. I have to decide whether or not to hold them or go to cash. I don’t believe I’ll buy into this tape today, as I’d prefer to see some follow thru first.
Bottom line: it’s a nice 2% rally in leading sectors and well structured portfolios today. My Quant is up 200bps, because it’s well structured. But, one day doesn’t make a trend — FUCKED FACE — so quit trying to time the bottom.
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Paul Tudor Jones says he made the most money on bottom timing.
I think bottoms are very easy to see. It’s the tops that are the hard part..you can see all the damage coming, yet they keep buying??
if MSFT closes above 110, we contnue to rally. AMZN and GOOG just have to be *decent* this afternoon to keep the momo-going through Friday. That will be seen as a green light for retail investors who check their stock on the weekend, so a big follow-through up on Monday. Assuming AMZN and GOOG do okay, I’ll stay deep long..
Look at a 10-day chart of AAPL, my friend. That is a bad-ass MF taking some licks and still standing proud. **THE** Market King doesn’t act that way if we are in Bear mode. Until AAPL is taken out, we will continue in a neutral to bullish trend.
So YES, looks like the bottom is in. Doesn’t Exodus say the same thing?
I doubt it will be a juicy tradeable bottom for indexes unless aapl flushes and vix reaches 35. Shorting in the hole like you did is a no no though, please don’t do it again although I do have to thank you for it as usual as you gave me conviction to play this little bounce intraday.
The only thing you can really do around here is buy stocks you really like no matter what, small size and hold.
Also it is increasingly likely that the raging bull is dead. The correct assumption to make now is we’re going to have a sideway market which means plenty of disasters and both bulls and bears having something to chew on.
Way too early to call a bear market obviously.
You’re welcome.
Well Bulls got promise of maybe a few tiny blows of coke from Mario today. But bottomline the party is over, us Bears are here to stay.
One thing we have all learned over the last 7 – 8 years is that when you start spouting your shit, the bottom is near.