iBankCoin
Joined Jan 27, 2008
7,218 Blog Posts

How Do You Buy This Market?

I’m still having a hard time getting behind stocks as the Dow approaches 30,000, and the NASDAQ approaches 10,000. Today’s hybrid screen left behind a bunch of topish looking candles, and they even faded $TSLA as it traded near $600 this morning. Did you read what I just wrote? Yes, $TSLA almost hit $600. That’s where we are currently. Bet against stocks, lose your life.

The Chinese New Year is upon us, so get ready for more pandemic with the Coronavirus. I’ll be looking to buy dips in tickers like $LAKE, $NVAX, $APT, & $ICCC. As crazy as it sounds, I almost feel more comfortable buying names like $LAKE over $AAPL at a 1.5 trillion valuation. That is not sound financial advice, it just shows you how elevated I think we are.

Here’s a look at today’s top hybrid movers, courtesy of Exodus. When tickers like $WMT start to look the best, it may be time to pump the breaks: CLICK HERE FOR CHARTS.

Cash continues to be king. There will be hell to pay soon.

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One comment

  1. mrcharlie

    Hey Cajun that SNAP has really worked out since you put it on my radar last year. I have a tight stop on it in the event it goes south. I have to agree with you on how elevated things seem, I moved bulk into cash on January 10th and kinda just watchin my last holdings SNAP, ZS and FNKO climb over the past few weeks

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