The market appears to be doing very little, but under the shit veneer is a very strong tech tape — also alt energy. These are stocks that embody and personify risk. You’d be wise to cover your shorts now and get long.
I have reallocated back into the market, to a limited degree. I am 38% cash, money reserved for the event I need to hedge should things go wayward. The market isn’t healthy and there tape isn’t strong, but one can be optimistic when seeing traditionally risk on stocks moving higher.
On the other hand, the energy trade, save uranium, has stalled. Rates have dropped and the trade looks tired, replaced by tech. It is possible the trade re-ignites tomorrow and it’s important to remember one day does not make a trend.
Nevertheless, into the final hours of today, I feel optimistic for a melt up.If you enjoy the content at iBankCoin, please follow us on Twitter