Listen to me. SAAS stocks are strong today, but that’s not the only thing you should be looking at.
How about this? Top industries ranked by Sharpe in Exodus are defensive.
Or how about today’s pin action in stocks — money flow heading hard into utilities.
Without getting into specifics, you should know, I’ve been barreling into value stocks for weeks now, quietly anticipating a correction in markets that would rip all of you vagrants out from your roots and into sewer pipes. When this happens, as God is my witness, Le Fly shall reign over you supreme — long Tootsie Roll.
Today’s intra-day action isn’t all that bad. Breadth is ok at 38%. Small caps are strong, and traders love buying dips. But all of that is retarded money. The smart money is long bonds, TIPs, REITs, and other value stocks.
GIS is +35% YTD.
Pay attention lad (slaps lads into the face with a strong open palm).
There is a storm of fire coming. The summer is going to be exceedingly hot. Rest assured, “The Fly” is prepared for this actuality and behaving in a manner that is deliberately serious and careful.
I’d also avoid shorting into the hole now, while small caps remain strong and the overall market is strong and prone to upside reversals. Reserve your juice for end of day rips into the morning.If you enjoy the content at iBankCoin, please follow us on Twitter