Out on The Lows

The only index that matters, the NASDAQ, is going out on the lows. The problem is, aside from round number psychology, this thing has no support until 4475. Therefore I stopped out my TQQQ starter.

For the love of calling market direction and not participating in the carnage, biotech was bulletproof today.  This sell off did not happen.  In the microcosm of medicine and hospitals this is just another day of milking Americans via their addiction to their wares.

Why is there no money flowing into retail?  Everyone is cash poor from being fully invested in biotech.

I spent the whole morning trying to fade the tape then I was like, “this is dumb, sellers are dominating.”  So I switched to working the shorts down into the hole.

There is no support on my radar until lower.  I want to add to longs.  Seeing as today was a trend day, I am banking on further downside Monday to start anew from.  Perhaps my lack of intestinal fortitude will be punished via Chinese stimulus and v-shaped gap up Monday.  Fine.

Normally I would go drink myself blind, seeing as it is Friday.  But I am rising above today, and will trade malt liquor for lukewarm water.  My model came into the week short, I had a short bias, but I hardly participated in the drubbing.

Here is your hindsight capital analysis:  the best short opportunities were oil and retail, not biotech.  FOR NOW :::SHAKES FIST:::