I Don’t Know Sh$t and Neither Does Anyone Else #SassyMusings 5/7/14
- When you take a step back and just look at how the markets are trading, it’s actually humorous. For instance, first thing I noticed this morning when we were selling off were the financials were holding up. The only thing I could think was WTF?
- No one really knows what the F* is going on, but we all like to ascribe reasons (myself included).
- Here is my current thinking. This is mid-cycle bull market stuff. The high flyers are coming back to reality and value is now more in demand. The crazy part about is the way it’s happening. It doesn’t feel methodical and steady unless you look at the SPX or DOW. It’s more like, well I think we are done with high beta and WHOOSH!
- Anyway, the good news is there is lots of opportunities to be had. They are not easy to trade by any means, but if you stick to a steady process you can succeed even in this hellish environment.
- Why is everyone so concerned with catching the TWTR bottom? Is it really for the profit or the ego? I vote it’s the latter.
- Once again great earnings cannot help a high beta name. FSLR being the example of the day.
- Let’s see what TSLA, SCTY and PCLN do tomorrow.
- I want to say the close today seemed bullish, but there is no follow through in this market, so I don’t know if the close means anything right now.
- Chart of the day: This is FSLR with great earnings.
- Tweet of the day: Meh, nothing got me to really laugh.
- Regret of the day: Umm, I guess not taking more really good longs from a list of set-ups I had over the weekend. They are working, but I’m just not in the mood to take longs and missing out. Luckily some of my subscribers are taking advantage.
That’s all I got.
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