iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,152 Blog Posts

Bogged Just a Little

I woke up to a minor bogging this morning, off by 80bps. The general market is flaccid, so I had to sell many things to get off from margin and cut losses. Typically when down in the morning, at least recently, I remain down all day. The opportunities to trade out from a hole is harder now that all the momo stocks are for shit. I keep catching myself trying to get back into families names, only to be disappointed.

Just about every morning I’ll sell what I bought the previous session, but I’m holding onto a long list of names now, fully invested, because for the most part they’re market perform names and I don’t have better alternatives.

The tape is weak at 50% breadth, but no irredeemable. I’ll likely take it easy for the next few hours and then press harder into the afternoon hours.

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