Back from Boot Camp, ready and refreshed to tackle shitty summer market action.
Prior to my blogging hiatus, I spoke of the rotation that took place after the Comey testimony. While some felt I was being too jumpy, I noticed that while most said the outcome was “a bunch of nothing” I noticed that FANG stocks as well as the rest of the market favorites were sold off while energy, materials and retail stocks caught a big bid – in the exact same way that they did at the election. Nothing permanent, but clearly some profit taking to send capital back at the Trump trade as his odds of impeachment contracted a bit from their mid-May spike.
It’s important to recall, those market darlings were of the few/only stocks that went lower and nowhere for months following the election…while small caps, banks, infrastructure, materials and energy all ripped for 2-3 months on average.
The action in FANG looks like the start of a range again. It was interesting to see the crowd excited to buy the dip on the first few occasions, then get bearish on Friday after getting no love on the long side last week.
Should you choose to buy these, please use your strategic senses…don’t chase.
Thrilled to see risk on, but not thrilled to be painted into today’s prices. Thanks anyway.If you enjoy the content at iBankCoin, please follow us on Twitter
That recovery in $SGEN is unbelievable.
Everyone on vacation or something??
$FRO needs to grow a pair and crack the glass ceiling it’s up against. I’m losing respect.
$SYMC Long July 30 calls
you don’t need analysis or fancy stock picks.
just Buy The Fucking God Damn Dip
good talk guys.
Lol, sounds like me 2 years ago. Gay as shit to say that now.
Nothing’s changed… can’t make ’em any smarter.
my algo is confused at this outlier worthy low of blog comment volume. 30 in like 8 days???
Everyone making too much $? I know I’m not…
Legs of sweeping – $GILD