Having the oldest President elect on record is ushering in a new era of old man value stocks today. Perhaps this is a preview of things to come. One thing is indelibly certain, Robinhood traders are being racked and ruined today amidst tumultuous crash type losses. My long term dollar cost avg portfolio, which was seeded with $10k this month, is down a staggering 6.5% today, on top of -8% yesterday. High growth “bubble stocks” are being strewn out across Wall with their guts festooned all over the place.
The NASDAQ is lower by 250 and I made it a point to reposition into secular plays now — stocks like SYY and perhaps a military stock or two. I even bought a homebuilder ETF. I even bought KO.
I also doubled up on my SQQQ position.
The point here is something is incredibly different about today. Volume is off the charts for risk averse names and you can clearly see the rotation happening. Perhaps this is merely the air coming out from the bubble. These sort of blood lettings are good for the body and the soul. Is it, perhaps, a foreshadowing of things to come?
We shall wait and see.
My trading account is weathering the storm +50bps. Everything else is trashed into hell.If you enjoy the content at iBankCoin, please follow us on Twitter