The last time breadth was above 85% for the day was 1/29/16. The good news is stocks went on a two year rip afterwards. The bad news is, stocks sold off that following week.
My sense: we are being lured in on the long side. We can rally 5% from here.
This is a rational trading thesis. What’s irrational is to believe we will continue to chop indefinitely. Day traders need to STFU. Eventually, markets move resolutely, absolutely.
I bought both WB and JD, based on the premise the Chinese FAGBOX will be breached to the upside soon.
Happy Friday. It appears, for the first time in months, we bottomed on a Friday.
KUDLOW: NO RECESSION IN SIGHT
"There is no recession in sight," says White House's Larry Kudlow after strong jobs report https://t.co/ujmxZeJCFp pic.twitter.com/HrcMX9U1qZ
— Bloomberg TV (@BloombergTV) January 4, 2019
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Let this be a lesson, pal: never short the market when Dr. Bernanke puts down his blunt to speak.
Kudlow. LOL.
Kudlow always arrives in his cheerleader outfit and carrying pom-poms
Bear market rallies can be viscious. Here’s how I’m positioning for 2019–long a basket of SaaS-type plays (TWLO, MDB, ZS, AYX, OKTA, ESTC) and short an equal amount of SPY. I expect to outperform the S&P by at least 20% this year.
Yeah, enterprise held the best during this pullback. Prob head back to ATH if the market stabilizes.
OK Fly. Pass the crow.
Nice Post