i was a bear, but i called everyone to keep buying into momentum and sell off everything in end jan as thats where MM will take profit REGARDLESS of results.
in matter of days all ur favorite stocks been plummeting for days while SPY/QQQ is barely off ATH?
so what's the play now? if u are still holding to all those stocks (e.g HOOD,AVAV, AXON, ONDS, MP, USAR, CCJ, MU, SNDK, basically rare earth, defense, semiconductors, photonics or any trump era inflated stocks), just know that u have to accept ur losses as they will not go back to ATH, if ever.
ur best bet is to cut loss over the next few trading sessions where they will have a bounce, the 2nd leg of the dump will happen end of february. but u have to accept that losses have to be made
what play is next? i have been saying rotating to defensive and dividend aristocrats in mid jan, look at XLP, GIS, FLO, DOW, PG, CL. if u have been in those stocks ur year will be massive green.
so listen to me if u dont want to lose money
market will bounce over the next 1-2 week of trading session, inducing new buyers in, but this is a dead cat bounce <--SELL WHEN IT HAPPENS
full port to defensive and dividend stocks, SCHD will continue to go up to 40, DOW will go up to 50, CL 100, PG 200, UPS 200, KHC 30, FLO 15, ACI 25. dont be a fool and buy MU or SNDK, MU is going back down to 200, and SNDK 300.
Software stocks collapsed and Defensives soared.
Many traders are betting on Software to bounce and Defensives to pullback.
Software etf $IGV Call volume hit a new record high today, while Consumer Staples etf $XLP Put volume soared