At 9:30 my TZA looked good. At 10:30 not so much. At 11:30 it looks good again, sort of. I closed out my TZA for a 1% loss, pared off my losers, bought a bunch of retail oriented stocks, and now I wait.
On one hand, market looks good. Lots of consumer names are popping. But on the other, there is a general malaise and weakness in the tape, coupled with end of year weak as shit volume that reeks of desperation.
I want stocks higher only because I own them now. Do stocks deserve to go up is another question.
Breadth is middling at 52% and the best hedges are against biotech and oil. Healthcare stocks have been the single worst sector in 2021, which is ironic.
If you enjoy the content at iBankCoin, please follow us on Twitter
