Float like a butterfly. Sting like a bee…
”Float like a butterfly. Sting like a bee. Your hands can’t hit what your eyes can’t see.” – Muhammad Ali
Ebb and flow. Bob and duck. Jab and dance. That’s what everybody wants to do right now. Nobody wants to let these stocks play out. Nobody wants to buy. Everybody wants to sell. Everybody wants to start getting short again.
From a contrarian standpoint, that’s probably very bullish. But to address the “should we jab and dance” question right now, is tougher. We’ve got some big gains that keep getting bigger in the recent call purchases that we made during the big August crash. But the markets aren’t acting nearly as well as some of our individual which raises the question — which is the “tell”? That is, are the broader markets acting poorly going to lead our individual stocks back down or are our individual stocks going to lead this market back up?
I’ve made my bets and I’m continuing to let them work out for us for now as they have been for the last week or so. I’m tempted to do some trimming. But not quite yet.
Back in a bit.