Both the Dow and the SPY look fine. The Nasdaq is weak, mostly semis related. My best position is NUGT and it was my highest conviction trade. I don’t have many high conviction trades now — but that’s one of them.
I suppose this is constructive action, all things considered. Big up day yesterday, followed by a milquetoast decline. It could’ve been a lot worse.
I’m flat for the day in my Quant, and still down more than 1% due to my losses in NVDA and SOXL last night. God willing, and I hope that he reads my blog, some of my positions will take the fuck off by the end of the day and I can rest easy tonight knowing all is well.
THIS IS FRIDAY, MOTHERFUCKERS. Don’t expect stocks to bottom.
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FLY… have you given thought that it bottomed yesterday?? and at that , a higher bottom than October 29????
not every bottom comes with a flush although that would be a much clearer signal.
CHINA!