The Dow is still stuck in the mud — but the small caps and tech are really pushing the envelope here in an oversold bounce that may in fact place in a temporary bottom.
Why do I say that?
Because I fucking can.
In Stocklabs our mean reversion algorithms are most oversold since April of 2020. This is as deep a correction as one gets, technically speaking. All of the reliable trading stocks have been fucking destroyed. I’ve been positing a narrative for months now, this is 2014 and we will have a fantastic bounce in May.
Perhaps today was the flush out? Perhaps.
I’ve been in and out of stocks all fucking day, attempting to catch a wave. I have been ebbing and flowing, now flowing down just 200bps. I am at SESSION HIGHS in spite of all of the poor trades — because I had a very large cash position. I am now 100% long, praying to the Gods for a positive resolution.If you enjoy the content at iBankCoin, please follow us on Twitter