Nasdaq Index may be green. But the Margin Sell-off continues. Today is the 4th day of a 4DML, so I am once again expecting a dump in the final two hours on the most margined stocks. Most of these stocks, [I listed them yesterday], are already down sharply just 30 minutes into the day. But they are still a long way from their bottoms, since this is a manipulated squeeze.
SCMR down 8%
CMGI down 6%
NEWP down 5%
VERT down 7.5%
AKAM down 8%
ICGE down 11%
VIGN, KLAC, CIEN, SONS, INKT, EBAY, EPNY, CORV, FDRY, ARTG all down over 3% while the Nasdaq COMPX and the NDX sit unchanged.
Rande Is
The good news is that we get one more day to cherry pick our bargains. Just don't forget that Earnings begin coming in next week. . . and it has not been looking good at all.
The only longs I am holding are my sleepers, the beaten down blue chips and just a few from our Phoenix list. No speculative plays whatsoever. Only speculation I am doing is on the short-side until we get some firm footing.
I know this is not what everyone wants to hear. But if I don't call 'em as I seem 'em, I wouldn't be helping. |
