The market continues to suffer from chaos underneath the surface as beaten-down techs, internets, and other growth leaders remain under pressure. My current approach consists of a tactical approach to both the long and short side, depending on what sorts of short-term set-ups I see in either direction. That’s it.
I’m not interested in building long positions here, since risk appears to have increased. Even the short side necessitates an alert and nimble eye, as things shift very quickly.
Anyone looking to take a more entrenched approach by building long or short positions with an eye toward riding an intermediate trend is, in my view, perhaps begging the question. With the market showing what some might consider topping signs based on historical norms, we do need to remember that this is still a QE market.
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