This is it boys — what separates the men from the catamites. Markets are in plunge mode and everyone is running around with their cocks on fire. I believe this is a fine occasion to buy the blood. I cannot think of a worse case scenario than this pin action.
The core of the issue are FAANG stocks, tanking lower by more than 3%. This is spooking investors and providing reasons to sell or avoid buying dips.
Markets are -550 from this morning’s highs. I suspect to see a cascade of selling soon; but hopeful that pessimism will provide smart money with a clean avenue to position into seemingly attractive valuations.
Stocks are all technicals, up until the point they tank — then fundamentals matter.
I bought the following, now all 10% positions. Cash is now 25%.
FIVN, HUBS, ZEN, UPLD, ZUO, DATA, NTNX
My stops on these positions will be tight, but I want to see the action tomorrow before making a final determination.
Life is a series of gambles — this is one of them.
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Passive forced selling coming.
https://youtu.be/3a0feRsr-Vc
More tariffs huh? How dumb can this administration be?
“The core of the issue are FAANG stocks” I was thinking the same thing:
https://www.finviz.com/map.ashx
I’ve been harping that NFLX and AMZN are sh1tty stocks for over a year. AAPL is just on baord for the ride down, but should be a BUY when this is over.
I also agree with roundwego on passive selling: we are seeing the Bear version of a short-covering rally: forced sellign to cover leveraged longs.
I B M really saved the day eh
Didn’t you write last week about not doing precisely this??
The pig salutes you, Mr. Fly. I can’t think of anyone I would rather have by my side during this savage market downturn. I feel like I should be buying here, but it’s so hard. The chart looks like a brick wall.
oops
Too bad you are 100% cash and not profiting from this, PnG
#CRASH #CRASH #CRASH
We need a 10-stand deviation move to the down side for maximum shock and awe. This kind of benign droppage simply won’t do.
Discipline over conviction.
https://www.rawstory.com/2018/10/donald-trump-invents-fake-story-stock-market-opening-day-9-11-illinois-rally/
I’m turning into a true Trump supporter. The more he lies the more I like him.
I wish Trump was right about September 12th, 2001. Would have been a wonderful day to short.
Dropping QID here for a quick 10% gain – reloading on the rally
But it’s still red and green today? How the fuck is that? Gartman calls it.