I managed to erase my losses via some plucky trading and also my shorts, having sold out of FNGD and UVXY, but added to TZA. At the moment, I only own a 15% position in TZA and BITO calls — a dastardly combination but a combination nonetheless.
The trillion dollar question is — is this recent sell off in SAAS and other high valuation names a mere blip on the radar or something much much more. While my innate bearishness always pulls me towards the dark side, I cannot sit here and tell you “it’s over” with so much strength in banks and oil and bounces in numerous tech names. It is tempting to want to believe it’s over — but alas — when has it really ever ended?
We are in fact trading and I am in fact building a long list of names shot thru the chest the past week or two, in a sincere effort to attempt at timing the bottom. Stocklabs is NOT oversold and that signal might provide me with enough digital muscle to go headlong into this foray.If you enjoy the content at iBankCoin, please follow us on Twitter