Taken from the Comments Section tonite on @realmoney
dougie •
This evening, as I reflected upon today's market action, I have to recognize that the market has fulfilled much of my optimistic and non consensus fourth quarter expectations in a relatively brief period of time
dougie •
This evening, as I reflected upon today's market action, I have to recognize that the market has fulfilled much of my optimistic and non consensus fourth quarter expectations in a relatively brief period of time
(of about three weeks).
This has served to stretch out the relation of price to "fair market value" - making the market, based on my calculus, statistically overpriced and stretched.
Moreover, the advance was once again concentrated in a handful of large cap tech market leaders
This has served to stretch out the relation of price to "fair market value" - making the market, based on my calculus, statistically overpriced and stretched.
Moreover, the advance was once again concentrated in a handful of large cap tech market leaders
(several of which that I own) - which previously, in early September, marked a temporary market top.
Market breadth on the NYSE was only about 3-2 positive, disappointing relative to the S&P cash advance of sixty handles and the Nasdaq rise of 300 handles.
Today I sold out the
Market breadth on the NYSE was only about 3-2 positive, disappointing relative to the S&P cash advance of sixty handles and the Nasdaq rise of 300 handles.
Today I sold out the
balance of my SPY long rental - but I am still exposed (medium sized) on a net long basis.
As a consequence I have shorted positions in S&P and Nasdaq futures (in the after hours) to reduce my net exposure.
It is time to take the foot of the accelerator. @jimcramer @tomkeene
As a consequence I have shorted positions in S&P and Nasdaq futures (in the after hours) to reduce my net exposure.
It is time to take the foot of the accelerator. @jimcramer @tomkeene
@SquawkCNBC @riskreversal @scottwapner
@carlquintanilla @saraeisen @WilfredFrost @lizclaman @michaelsantoli @threadreaderapp unroll
@carlquintanilla @saraeisen @WilfredFrost @lizclaman @michaelsantoli @threadreaderapp unroll
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