I’m out of my last bit of swing longs here, and find myself back to 100% cash. This market is treacherous, disgusting, and Santa Claus is no where to be found.
The indices have been masking the pain for a few weeks now, but that may be changing. The violent sell program that happen around noon reminds us that things can get fast in a hurry as people jam the exits.
I have little trade setups to share, which is another reason I’m comfortable being in cash here. Hopefully my capitulation in longs marks the lows for bulls, but the way things are looking, the selling could very well be just getting underway.
A great man once said, “it’s going to be a long winter.”
Indeed it is.
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reminds me of
https://www.youtube.com/watch?v=gp5JCrSXkJY
Fitting, added it to post.
Lol! Gloomiest part of my day, so far…
Winter is coming except on maui
indeud.
Biotech continues to defy gravity. I’m playing resistance breakouts.. if it doesn’t takeoff on the break I’m out. Otherwise I think cash makes sense.