I am a bit panicked by today’s gap up in futures, frankly. I see everyone else on ferris wheels and roller coasters, having the time of their lives, eating cotton candy and popcorn, and all I can think of is ” boy, do I wish I can throw those people into the gears of that ride.”
My situation is as follows:
I am long VXX tits and a TZA steed, alongside egregious amounts of TIF, CPST and ALJ. Actually, let me retract that whole, fucking, sentence. My cash position is north of 60%. Therefore, I am sitting on the sidelines, a mere spectator in the game of money changing.
However, I had grandiose designs of buying dips and taking advantage of the margin liquidations of others, like a vulture gnawing away at a corpse.
This is what I have to choose from, as far as dips are concerned.
(2 week return)
MTW -12.8%
ALJ -11.5%
EXK -9.5%
LUFK -8.4%
CREE -7.2%
JOY -13.8%
BTU -13%
TCK -11.6%
FCX -11.6%
JNPR -10%
POT -9%
CLF -8.5%
FSLR -37%
DECK -24%
TC -23%
ADTN -20%
IAG -11%
AG -10%
My choices is pretty straight forward: buy into the Chinese sensitive stocks, despite signs of a slowdown, or wait for the market to come to its senses.
Ha!
My point: there are dips to buy and perhaps this is a good opportunity to step in on some of the above names, for a trade.
All that aside, TIF is still my top pick.
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