Momo Trying to Firm Here — Buy or Sell?

Full disclosure, I took a position in SOXS today — because of the congestion in the SMH at $150. I don’t know for sure if we’re topping — but it’s entirely possible we trend lower for a few days from here.

On the other end, momentum stocks are rallying again. Names like SPCE and ENPH have gone green and my Bubble Basket losses cut in half. While nice, the Nasdaq is still off by 100.

For now, I remain heavily cash’d up and will hold the SOXS hedge until at least tomorrow.