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Baby Shark stock market is now a Mama Shark stock market

April 24, 2018 by Cody Willard

Stocks are getting killed, with the DJIA down -500 after starting the day up more than +100 points. I’ve been calling this a Baby Shark stock market as the volatility day-to-day has been biting lots of traders. But maybe it’s now graduated to a Mama Shark stock market as the volatility is perhaps just turning ugly.

I’d warned that earnings season wasn’t likely to be the savior of the bulls that every major paper and news program had mentioned it might be. In large part because, the market often likes to make a fool out of the most amount of people as possible and the consensus was just too strong that earnings wouldn’t just be great, but would be great enough to make stocks go up again. Not so, so far. And I expect the rest of the earnings season is likely to remain a sell-the-news kind of reaction.

The good news is that I do think the markets are likely to finally start putting in some near-term bottoms if the earnings season sell-off remains, like the wild flowers on my property in NM, in full bloom. There’s likely to be some buying opportunities as earnings seasons rolls on and I am likely to trim yet more of my puts here soon, as I still have about half o the puts I started buying just two days before the markets started this tanking/volatility.

As for now, steady as she goes, as I remain long Revolutionary companies that are changing the world and in most of which we have 300-10,000% gains (not a typo). But I remain more cautious and recommend sticking with higher cash levels and a few good hedges (including some of the index puts we bought and still own half of) than I’ve had any time in the last eight years. I’m not bearish but I do think the Bubble-Blowing Bull Market that we’ve been riding for the last eight years is awfully late cycle at best.

Be careful out there, as I keep saying. But don’t panic. And don’t be greedy. Be cool, man.

 

 

 

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Filed Under: Trading

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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