I was forced to average down in a stock today, due to the severity of the decline. Usually I don’t throw good money after bad. But the nature of biotech is wild and we’re still in a strong uptrend, so dips should be bought. Selling biotech on dips is an admittance of failure.
“The Fly” does not fail.
Looking around the market, I am beguiled, and also bewildered — because I can’t find anything good to buy. There are stocks to buy, but none of them are “good” in the traditional sense. Hear me when I tell you — when I am unable to find stocks to buy, it usually means end of times is just around the bend.
There are a handful of retail stocks, lots of oils, and a plethora of degenerate biotechs. That’s it. Nothing else!
For now, I remain stoically in a 50% cash position.If you enjoy the content at iBankCoin, please follow us on Twitter