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
18,350 Blog Posts

Tech Soft — Waiting For a Better Set Up

The market has been celebrated this year for its returns. But look at my Bubble Basket and how the index has traded flat over the past few month — stuck in a trading range.

While tempting to exercise some bravado here, I cannot get myself to making an purchases just yet, especially with the profile of the market so weak and biased against tech.

Nevertheless, I scoured my position and decided to increase my stake in SONO — not because I love the company or believe in the speakers they retail, but only because the stock is heading higher.

Best case scenario, markets rip higher and the Nasdaq leads. Only then would I consider spending my 25% cash position on high priced designer stocks.

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