I Bailed

Discussion in 'Trading' started by themickey, Mar 4, 2021.

  1. themickey

    themickey

    Today I jumped, not 100%, still holding Gold and Silver as I've become a bagholder unfortunately with this sector. I got trapped with that sudden reversal early January.

    But dumped holdings in Fintechs, Lithium, Nickel stocks, Security software and Sportsbetting.

    Have kept some positions on computerchips and a couple of penny fintechs.
    Also kept some bibs and bobs misc penny stocks.

    Atm am partucularly short term bearish technology stocks, battery metals, fintechs and mkt in general.
    I think risk is building but I'm not calling a dramatic top as such, bit early for calling anything like a top, but making money for longs going forward might be an uphill battle.
    Credit-Fast-Furious-Universal-Pictures-2021.jpg
     
    Last edited: Mar 4, 2021
    Onra and Clubber Lang like this.
  2. JSOP

    JSOP

    Ah ha!! So you are the one who's responsible for the 2.7% drop in Nasdaq today!! :D Makes sense now that the vaccination efforts is well underway, the economy is re-opening slowly, there would be less and less dependency on high tech. for everything. It is time to switch to different sectors, sectors that were hard hit by the pandemic.
     
  3. narafa

    narafa

    The market bought the vaccine R&D all the way up and is now selling the reality (After vaccine availability), all priced in.

    Same old "Buy the Rumor, Sell the News".
     
  4. themickey

    themickey

    The only hard hit sector I can see is gold and that one just likes reminding me of what pain feels like.
     
  5. JSOP

    JSOP

    Can't sleep. That is what pain feels like...:(
     
    vanzandt likes this.
  6. themickey

    themickey

    upload_2021-3-4_18-34-50.png

    The other day when the media were splashing headlines; ".....we're expecting a Commodities / Metals supercycle to begin" I thought to myself. "Ya Ya Ya, here we go, top coming soon probably".

    I recall the 2008 drop off, just prior they were saying "...Market supercycle....".
     
    murray t turtle likes this.
  7. Nobert

    Nobert

    I.I page 190.
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  8. themickey

    themickey

    The market has its own secret special way of knowing when everyone or enough have crowded onto one side of the boat, then like a giant whales tail, flips the boat upside down the other way.
    "Price is always right" Yeah 'right' to get fleeced. hehehe :)
     
    Last edited: Mar 4, 2021
  9. i'm also bearish on tech but i think there may be some merit to the commodity super-cycle idea. overweight materials and oil, unfortunately also bag-holder of GDX. i have some longs and puts and if i hit a particular target i may sell everything and wait til the market has some clearer direction
     
    benwm likes this.
  10. narafa

    narafa

    Commodity super-cycle is for real, it just doesn't happen to all commodities alike at the same time, there is also "Sector-like" rotation in commodities. Essentials move first (Food, Grains, Industrial Metals & Energy), then others follow later.

    Gold & Silver already moved early but then due to this rotation, they are correcting, but long term, they will continue their trend upwards, just a matter of time.
     
    #10     Mar 4, 2021
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