My thesis to go to 50% cash has played out just the way I imagined. Most smallcaps last couple weeks have wilted like a moustached frenchman at the first sight of battle. As you know the SPY is what I use to get a gauge of the overall strenght of the market. We have seen some distribution the last week or so on the volume side. But price is holding up. An interesting divergence that gives me really no idea or edge on where we go next. On the big upday on Monday we had the holiest of holy days so volume was light so this is a tough read. I will still wait for a pullback closer to SPY 104 to deploy
In the meantime I am slightly bored farting around on twitter all day making fun of stupid people who trade $spnge which should be named from this day on $masterdingleberry so I am going to deploy 10% more cash in some sectors I see promising. and of course on all dips I will buy more $puda $trit and $srz (my favorite names)
Shippers and Batteries been running.
On the battery side Im already in $abat
Shippers yesterday were running hard….hotter than a hooker sitting in a baptist church
$drys $gnk $rams all running yesterday.
I have been buying $free and $sblk. Keep an eye on $prgn too. Their dilution has ended last block of shares gone at 4.11. This could run hard also
$free getting past some resistance. I expect this to run if shippers do.
I have allocated some sheckels to $hban. Take a look at the chart it is getting past some resistance in this area and if it does it could go. Also it is starting to get a series of upgrades which should provide the gas to get it through.
