The market is being quite classic this morning, acting all tepid and shit after a monster beat by INTC. Just when everyone got caught leaning one way, all bullish and shit, the market pauses and mind fucks everyone. Well, let me be the first to tell you, once again, there is still upside left in this move.
Now, I’m not talking about going vertical, after the move we just had. As a matter of fact, there is a distinct possibility that the market will trade lower in the short term, effectively luring a whole new set of asshats into the proverbial “bear vice,” in order to be properly squeezed at a later date. According to the laws of mathematics, dictated by The PPT, there is still upside in this move.
Nevertheless, because of the fucked up nature of this world, coupled with the fact that just about everything is a lie, I’ve taken steps to assure my assets are thoroughly protected, by way of large cash horde. Typically, I will keep a 10% cash position, just to give myself a bit of leeway with regards to actionable trading opportunities. But now, I am keeping 30%+ on a regular basis, so that I might deploy it into a VXX vehicle for proper and thorough hedging of my entire portfolio. Essentially, I do not trust anything;therefore, I need to keep insane amounts of cash on hand to protect my gains.
By the way, former iBC blogger, John Lee, launched his new website yesterday:ChartsGoneWild. In addition, he launched a premium service (finally), which is sure to be a great value to subscribers. When it comes to picking stocks, via charts, no one does it better than John.
As for this tape: we are mixed between robust tech and weak CRE/banks. Let me break it down for you in a mathematical formula:
Strong Tech+(weak CRE+weak Tech)/fear= Go Eat a Fucking Sandwich.
Top picks: NVDA, CIEN
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