iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,468 Blog Posts

Waiting For Lower Prices

Technicals have deteriorated to the point where I think there’s a chance for a flushout, another PPT oversold signal. I could be wrong, which is why I am not selling more. But, I am cautious enough to want to sit on my cash and wait for the market to show me a clear direction, instead of trying to anticipate one.

Now is a good time to refresh watch lists with quality stocks and forget about the low brow stuff.

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6 comments

  1. frazzledazzle

    agreed. Glad I took positions in BIS, TZA, and UVXY prior to the long weekend just to be a bit defensive. My shorts are holding me up today

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  2. NON Solo

    when the market has a draw down, how come everyone disappears in this forum?

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    • Fractal

      If you think about it, you probably can find the answer to your question.

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      • NON Solo

        I get it, just about everyone is long, doesn’t mean it’s time to go into hibernation. I’m long through the Alibaba IPO, then will reassess.

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        • Bullish

          Everyone is hung over from the holiday celebrations. I wouldn’t make too much out of it.

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  3. NON Solo

    I got into TEDU after the 8% drop

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