I decided that it was time to take the rest of the reward for having taken the risk (and advising same in NFTRH) when it seemed most did not want to. I sold the balance of my SOXX shares this morning, but am still in the Semi game through individual names.
Some bearish writers (and their followers) who missed the entire broad post-Brexit rally are writing about Black Swans, CB stock buying and the big crash to come. I don’t rule it out, but it smacks of desperation; ‘if I can just hold out to my thesis long enough I’ll eventually be right and damn, I’ll tell ’em so…’. Meanwhile, big market moves were there for all to see if they only wanted to see. Others meanwhile, have shifted from manic bearish to manic bullish. The herd and all that greed and fear that fuels it, is manic.
Meanwhile, the stock market, led by the Semis is over bullish. As we noted last weekend in NFTRH 405, the sector at the other end of the spectrum is none other than the gold sector, in a bi-polar swing to over bearish.
This is the kind of market you’ve got a remain flexible in and for crying out loud, avoid the consensus and its herding impulses in. What was the consensus post-Brexit? What is the consensus now? Eh, Bueller?
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