All day long I heard people say “this is it — this is the big one” based upon an event in China that has been telegraphed for months. Fuck off — this is not how black swans work. This is not Lehman or Bear — this is a giant Nothingburger.
How do I know? Because it is.
This is drama for the cannon fodder. Go ahead and confuse yourselves and trade both long and short. Let me show you my charts.
Inside Stocklabs, the % of large cap stocks collapsed to just 8.5% at the session lows. The RARE Hybrid 12 mo OS signal flashed too and then we bounced like a motherfucker into the close — posting 9 or 10 straight candles in a row.
The last time Stocklabs ranked less than 10% of large caps bullish was 7/19. See the results?
Moreover and this goes without saying, initiating shorts with the VIX +35% for the day is fucking retarded. We can gap down tomorrow, of course. But are we likely to collapse the open based off news that can be neutralized with one presser from the CCP?
I added to my upside ETFs today, holding more than 55% cash and I will deploy it all tomorrow, should be drop again.If you enjoy the content at iBankCoin, please follow us on Twitter