I’ve sold my swing longs this morning, taking losses in WPRT, OPEN, & YGE. I don’t believe in a bounce here and want cash. I still hold this MEG position, which is holding up well all things considered, but for the most part am all cash.
This week, I’ve experienced a bit of a drawdown, but that’s ok. It happens. Like Fly said in his earlier post, if we time the inflection point just right we will be off and running again. But, now is not the time.
I’m definitely not a dip buyer, and voted net seller here in my recent poll. I can’t buy anything here, the $SPX looks like death.
My worst fear is shorting here into the hole, then being wrong again on that trade. It seems like the trade to make, but I’ve put myself on freeze– I have to limit mistakes.
I wish I had more actionable ideas for you here, but I got nothing.
Top pick: Cash
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Fundamentally, TSLA is a dog, they’re making no money right now. Given the serious market weakness, it’s surprising that the hot money flavour of the quarter ticker hasn’t been unwound yet. Love the R/R on a short trade here.
Do you still have FRO?
negative.