Some Days You Just Lick Your Wounds

Shrapnel and sharp artillery to the face from the market today. Let’s just say we were due.

In this selloff, other than nibbling and getting steamrolled by MTH and ITB, I have help up very well because of the ‘six horsemen’. That won’t last if the selloff continues.

This selloff is different for a few reasons.

1. Because I have been stopped out of my first trend tech position in a long time – AKAMAI. I rose this right up near 60 from the teens and sold it all the way back down at $42. This will happen a lot to me if the selloff continues.

2. the bludgeoning of the cash flow machines – the Financials.

I was looking through my long list of names and other than American Express, own no financials. That has been lucky. I have generally avoided them for some reason. I have lots of oil, so have been fortunate their too.

Days like today, I do nothing in the market. Won’t be many new all-time highs to watch.