Extreme panics to the upside are part and parcel of any decent bear market worth its salt. This one should be no different. Following a 20 percent decline over the past 3 holiday encumbered months, one should expect revenge trading like a motherfucker to take place — starting with tomorrow’s session.
The easy money will be made early and soon. I’ve concluded that I’d prefer to take my initial gains, move to some cash, reassess, and then press hard again. What this might look like to you, the unwashed, uncashed pleb, is me selling out of numerous winnings for 5-10% gains, watching markets continue to scream higher, and then barreling back in at higher prices. This is entirely acceptable behavior, given the recent “volatility.”
One must book profits and wait for confirmation of another leg higher. Just a few days ago, I was willing to bet one of my children on a sharp move lower and total breakdown in the semis. But that didn’t happen — fucked face. The market is filled with wondrous marvels and I do not know more than it.
I’m merely a large pirate vessel, floating atop the sea — wholly directed by the winds of fear and greed.
Early going, confirm the bullish tone by watching crude, crude stocks, HYG, SRLN, AMZN, and NFLX.
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