Several things for you to consider here.
On Friday, March 22nd, the Exodus algos flagged oversold for the entire market. The SPY was $279.25 at the time of this call.
Secondly, the 50 day moving average is about to turn over on the 200, creating “A Golden Fucking Cross” — a technical term that is awfully meaningless — but meaningful because it is followed by so many.
Lastly, the 10yr is at 2.38%. Housing stocks are up 20% for the year. The American real estate market is pistol hot. Gentlemen, we appear to be in a Goldie Lock scenario of low rates, high growth, a dickless Fed, and a crazy President hell bent on higher Nasdaq prices.
Buy at will.
I bought new French Pharma ipo GNFT — major player in NASH drugs.
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And yet the good Doctor Fly almost willfully ignores the fakeout and fail of the Golden Cross at EOY 2015.
Most USA corps are in a stock buying blackout period for the month of April. The market will promptly go no-bid. There are no real buyers other than these debt-ridden slags.
Support @2280 spoos into the May FOMC, sir.