Short answer: maybe
We have a true dichotomy here with tera caps +23bps sporting 64% breadth while pennies and small caps plunge lower by 1.5%, sporting 25% breadth. In other words, the Reddit crowd BTFO again, as AMC descends expeditiously into hell.
I took some market exposure here, but in real names, larger capped, lowering my cash to 60%.
There isn’t much to trade out there and the volume is more or less dead. Trying to fish in these waters is difficult and for the most part very boring. Perhaps the best approach to this kind of tape is to skip over individual equities and instead opt for larger positions on macro themes, via ETFs.If you enjoy the content at iBankCoin, please follow us on Twitter