Trade Alert: Getting a little longer as the market panics
Fear is palpable. Panic is in the air. Stock markets down 10% in a week. Headlines blaring fearful news.
Time to nibble. Time to cover some shorts.
With the DJIA down another 800 points today as I type this, I’m covering 15-20% of most of my short index hedges across the board.
I’m nibbling on some AMD, some CSCO, some DIS, some FB, some QCOM, some ROKU (more on this one later), some SNE, some SPCE, some SPOT, some TWTR and some UBER. I’m buying back about half as much as I’d trimmed at (MUCH) higher levels recently.
Don’t draw a line in the sand. The markets could do this again tomorrow, after all. The Coronavirus news could get worse. But I’d sure rather be a buyer than a seller into this fear today.
