The DJIA is down another 200 points and down over 300 points on the day since I penned that opening piece.
This 100 point down day in the $NASDAQ is how fear starts to build into panic. Wouldn’t bet on a bottom here, but I’m going to look to put a little money to work.
Panic would be a good thing for the bulls, counterintuitively, I suppose, because it would wash out some of the weaker/momentum owners of these highflying bubble stocks. $DDD is down 27% from its highs at the beginning of the year. $SSYS, $AMZN and others that we trimmed on the way up and near highs are down big.
I always remind you not to try to catch any bottom in the markets or in your stocks, but this looks like a time to put a little money back to work in a classic tranche kind of buy.
I am looking to put in a bid here for some $XONE common stock, just a small, disciplined tranche buy.
I’d also note that I continue to work on a Wearable and Drone Revolution Stock portfolio and I’ve got $JDSU and $INVN on the buy list, but am not pulling any triggers on them yet. More as I continue to research.