It was another ugly red day in an ugly red month.
The price action is absolutely pathetic.
The S&P is now down in 2018.
The last time Amazon traded below it’s 200 day moving average was March 2016.
The #MAGA trendline that Fat Nixon was using to time his positive market tweets is now broken:
We are now into a second CNBC ‘Markets in Turmoil’, with tonight’s version called ‘CNBC Special Report: Market Sell-Off’. Two markets in turmoil in a year with the S&P basically flat. You can always count on financial media being pathetic.
So why are stocks and markets going down?
What should you do?
I asked Ivanhoff to go through the markets with me and we put together this video of me doing my homework this afternoon. Click here and you can see us rip through tickers and indexes.
For those that just want the end results…I have decided to do literally nothing.
There are some enterprise stocks like $TWLO, $OKTA and $TEAM, as well the Nasdaq 100 index itself, that I may peck away at and trade. You can follow along on Stocktwits if you like.
This is a great time to make sales calls and catch up with loved ones!
The markets will heal.
In the meantime, cash is yielding 2 percent.
PS – Be careful out there or else…and:
Also published on Medium.