First off, this morning’s moves — all of the lateral nature.
Sold CRON -5%
Sold DRIP -4%
Sold SOXS -3.3%
The breakout in crude isn’t something that I am willing to stand in front of, especially with an inverse ETF. CRON is a POS and the semis have some momo.
I bought the following SAAS stocks.
Chinese Burrito purchases
Inverse ETF purchase
On on hand, the QQQ’s may be setting up for a nice and beautiful long white candle. On the other, the small caps are weak and heading down — a divergence established by the overt strength in FANG stocks — thanks to the NFLX price hike.
Presently, I have two hedges, FAZ and TZA, and 20% allocation in TLT. In addition to my longs, I have 30% reserved in cash. Honestly, I do not have conviction in any trade now, mostly because we’re up against some resistance here, which is going to lead to a large directional move. Part of me thinks up and the other part down. We won’t know until we get past these levels, which I suspect will be resolved by the end of January.If you enjoy the content at iBankCoin, please follow us on Twitter