iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

Nothing Redeeming About The Morning Session

Sellers are out in front this week after extending their overnight progress lower. We have already exceeded my weakest hypothesis for the session and show no signs of responsive buying.  The Monday gap being a fade data is being overrun as are early dip buyers.

Breadth is low, all sectors are in the red, and so far the tech darlings are not holding their morning bid.  The earnings gap down in Priceline is being sold.

Is speed coming back into the market? Or is this just an attempt to force your hand? I booked a few losses to raise some cash.

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7 comments

  1. IBankCash

    Hello Raul
    Are you re-thinking your BIS position here yet? I know you’ve been pounding the table that it is your #1 pick for best returns in a falling market. But today it is not cratering along with the markets as you had expected it to do. In fact it is showing a lot of strength compared to market.

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  2. King

    You better believe he rethunked it….LOL
    Can’t say he wasn’t warned by a few here. You don’t short a red hot sector. If he wanted to short something he should have shorted the overextended SPX for a swing.

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  3. IBankCash

    Take a gander at LABU today…now THAT’S what iIm talkin’ about! (extra Willis)

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  4. Highball88

    LABU for the win!!!

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    • Ken

      Nice call last week to buy labu.no denying the strength today wow.what is your upside target

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  5. Raul3

    IBB was super resilient this morning while the rest of the market was on sale. Def rethinking BIS, but slowly.

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