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.If you enjoy the content at iBankCoin, please follow us on Twitter