Markets get hyper fixated in themes from time to time. Presently, the market obsessed with shares of $SMCI and as it goes — it seems — so goes the market. Shares are taking another drubbing today, off by 8% — which is sinking the $IWM down heavily by 0.75%. The market is mired in a vicious selloff amidst high beta trading stocks, down another 2.8% for the session.
The last 7 sessions for my High Beta index inside Stocklabs.
-5.49%
+4.7%
+1.03%
-2.08%
-0.12%
-2.95%
-2.8% (today)
See pal, it’s over and you’re just hearing about it now.
Since I predicted this, I had $SQQQ, $TZA and $LABD into today, alongside some low beta defensive stocks, and stand before you with gains of 9bps. I am not attempting to make a killing on the downside — just not get killed and preserve my gains.
I do not have any hedges now — just cash of 35% — eagerly awaiting a rigged hour or two where green candles run in abundance into the final hours of trade.
If you enjoy the content at iBankCoin, please follow us on Twitter
