Whenever people are soiling themselves in their pantaloons — buy.
We are seeing bottoming action in numerous sectors, especially biotech. This is how the market could play out today.
FACE RIPPER — everything up. Maybe too easy.
MIXED RIPPER — biotech/tech up but commodities lower
CRASH THE CLOSE — everything sells off because fuck you.
If we crash the close, this would be as gift. But if you’re all in now — your pink levels will be 100000%. So in order to prevent that, avoid falling into the trap of thinking THIS IS IT, THIS IS THE BOTTOM. While it’s true, it might be. It’s also true, maybe not.
Just because Stocklabs is screaming OS now and we are at technicals levels that demand long only — I am not leaning all the way in. I am still 85% cash, down 1% — avoiding temptation because the big move, whenever it comes, will not only rip faces off but entire heads.
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I agree the USD is now signaling overbought for the first time during this entire move higher