ALL the talking heads have been virtually begging for a traditional post-Labor Day sell-off. Looking real good for that. Most years, you'd get a tradable bottom in October. Short-term, seems likely that trying to get short now would be disadvantageous--more likely to get filled nearer the bottom than the top.
Had some really terrific losing trades the last few days. Stocks that shot up just like they were supposed to, then plummeted through my stops before I could turn my head. Made me gunshy before putting on what turned out to be my one profitable position that did well today. Heck, it was literally "parabolic," kind of quietly parabolic. I was feeling too hurt to put on a full position, unfortunately. Intensifying a pattern of the last few sessions, all day long it was trading up, seemingly against the market: It'd be 39 bid to 1 ask, and it would go up or at least hold. Thought I saw a few block trades, so went to LII. All day long, except for a rest around lunch time, 1.0 to 40k prints above the bid. WDIK, but looked like someone was taking advantage of a down day to take on a whole lot of stock without bidding the price into the sky. That's three out of the last four days moving up on above average volume. A beaten down sad case, this stock, though not beaten down to ENGA or ETYS levels--lost a customer or something. I have only a vague idea about what the heck the company does--some sort of biomedical supply with a net angle--though I've always like the ticker, very poetic. My cousin the fundamentals guy told me it was oversold months ago...
I'd be looking at a few like that, plus a few other unusual suspects. Otherwise, I vote for a crash, a gnash, and lots of cash. |
