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
19,111 Blog Posts

Today’s Upside Breadth Strongest Since January 2016

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

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7 comments

  1. acehood

    Let this be a lesson, pal: never short the market when Dr. Bernanke puts down his blunt to speak.

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  2. mactrader

    Kudlow always arrives in his cheerleader outfit and carrying pom-poms

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  3. jbandy

    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.

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    • og

      Yeah, enterprise held the best during this pullback. Prob head back to ATH if the market stabilizes.

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  4. edge

    OK Fly. Pass the crow.

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  5. sidstatus

    Nice Post

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