All of the hallmarks of a stark turn lower are present now, with exception to upside movement in semis. I took the opportune to unload many of my mistakes this morning, in addition to averaging down in SOXL — which ended up providing me with an honorable exit of -1.7%.
My day, thus far.
(SOXL -1.7%) x2
BOGGED for sure, but I have a few irons in the fire now working. One thing is for certain, the volatility affords one the opportunity to claw back from the dead and profit.
Two things, rancid action in banks. They are shorts.
I like the action in gold. They are longs.
Old man stocks like SJM provide safety and comfort, but this market is wholly unforgiving and should be treaded carefully. I know your bias is wrong, because it is higher. We are going to retest the lows.If you enjoy the content at iBankCoin, please follow us on Twitter