The Dow is down by ~400 points and the bond market is dislocated today, with the 10yr down more than 10 basis points to 2.43%. Just yesterday, stocks were invincible and could not go down. Today, we are enduring nothing but tragic horrors.
Most of my stocks are tanking, pausing for a few minutes, and then tanking again.
Unlike previous occurrences, I am not reacting to this pin action.
My course is action is simply to watch the market, eat intermittently, and then watch the market some more. I have no interest in betting against stocks, other than position long in TLT. I also have 20% of my account in cash, and another 20% in gold.
Am I enduring the pangs and the bangs?
Yes, of course I am. I own stocks like COUP and AYX. However, I’m not concerned — not even in the least.
My sense is today sucks — but the dips will be purchased next week and bears will be shredded again. My opinion can change, however, and I reserve the right to say the exact opposite of what I just said now.If you enjoy the content at iBankCoin, please follow us on Twitter