WTF Happened?... What Next...And I Fired my Robo Advisor

NEVER forget:

I joked yesterday that I fired my ROBO advisor. It seems I can’t get one to meet me and discuss what happened this week.

I kid because I actually use Wealthfront for one of my retirment accounts, but I am tired of their customers calling me for advice!

These were my favorite snapshots from Stocktwits depicting the carnage in layman terms:

howardlindzon shared a chart on StockTwits

British_Redcoat shared a chart on StockTwits

howardlindzon shared a chart on StockTwits

howardlindzon shared a chart on StockTwits

So where are we now:

In hindsight, China has led this mess down by a few months (notice the Invisible Hand – NOT- of the Chinese):

JLyonsFundMgmt shared a chart on StockTwits

JLyonsFundMgmt shared a chart on StockTwits

JLyonsFundMgmt shared a chart on StockTwits

JLyonsFundMgmt shared a chart on StockTwits

JLyonsFundMgmt shared a chart on StockTwits

StockTwits shared a chart on StockTwits

Obviously it a brutal week for stocks and markets. That said, I was buying on Friday not selling. If you read me at all you know I have been selling into strength all year (I did buy $CHGG and $LULU last week) and have been stopped out of many long term positions as well as price dicatated. Now that panic is here, I like to buy and trade for profits that offset my longer term holdings. Friday I was using $GS, $XIV and $QQQ as my proxies. I am already underwater.

My gut feel this weekend is that any good rallies will be sold. I also expect Jesse Felder to be shaving sometime this fall so keep an eye on this line and chart:

bclund shared a chart on StockTwits

Hope this helps.