Yes, sure, there is something of a correction going on in the equity markets. Some of my entries last week and into this week seem early. P is in the toilet. WB flashed its zoobies at me only to rabbit punch me. FireEye is not ripping, clearly it is broken. KNDI has not been so dandy.
The market has accelerated and the tone made a notable shift in pitch and vibration to start September. There are lots of moving parts right now, macro waves rippling across the financial complex like the stroke of a monarch’s wings. There are experts who will tell you their prediction and I respect a few of them.
My job is to understand the auction today and how it might affect about the next three days. My looking glass is a bit foggy beyond that horizon. However, one can be dangerous in such a limited duration if they pick their battles wisely.
I do belive I have some of the finest candidates should a flood of money decidedly turn risk on.
A few stocks who might have offered hints this week were WYNN and PCLN. These longer term consolidations in risk assets pressed lower. If they continue to entice sell flow, it could mark a shift in risk appetite. Also watch GOOGL. It is flirting with swing highs, lingering well, and “should” make a new swing high. A failure to do so would be unlikely and odd.
On the topic of unlikely and odd, we are 45 minutes away from printing the elusive “neutral extreme” on the Nasdaq. Such a structure suggests strong directional conviction. Bears need to show up ASAP. Thus, as we close out the week, with two red candles on our charts and three hard nights of trade, perhaps you could envision a new high and how it might change your perception of this market?
I am taking my final swing at SINA, via the September calls. This might not resolve soon enough, or it will, and the derelict will come to the town square with a fresh tunic ready to party. I am in some NBG too.
In the meantime, Go Pro seems to be the hottest wearable since Beats. I am in no hurry with this one, a good slow idea for a young gent.
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Have a look at XNET, sir.
it has been a beast lately, tough to buy right now, I’d like some kind of pullback to get involved. If you are already long, awesome, some IPOs have been ripping