The worst part of this market is the lack of panic. For the most part, this recent decline has been orderly.
The biggest misnomer is the untested theory that Asia has decoupled from the U.S. Well, for those of you who believe that, tell it to the fuckers in Hong Kong, who lost more than 5% in trading last night.
Near term, I wouldn’t be surprised to see Bernanke and Co. step in and save the day, via an emergency rate cut. If he is serious about doing it, expect it to happen on Friday, which conveniently falls on option expiration day.
With my money, I may bulk up on my [[LEH]] short position, while taking profits on others. Thus far, I’m undecided.
Finally, it’s worth noting the queer nature of all semiconductor stocks. [[INTC]] shit the shower, big time. Expect many others to do the same.
On a pullback, I would buy [[SSG]], which gets you short the semi’s (double inverse), namely INTC, [[TXN]], [[NVDA]], [[AMAT]] and [[WFR]]—amongst others.
NOTE: Anyone know what the fuck just happened to [[MVIS]]? Fucking assholes, they are.If you enjoy the content at iBankCoin, please follow us on Twitter