- Three thoughts for today
- The Nasdaq 100 dropped 2% from the opening price today and has rebounded but not all of the stocks will regain the highs
- Watch for lower highs to develop as a sign of a top
- Investors Intelligence sentiment is now in the danger zone last seen at these level two years ago ahead of a nasty drop
- There is a lot of tricky sector rotation from day to day making it tough to trade
- I'm looking at Softbank's holdings today which were purchased in Q2 as they have ripped higher with nobody short and billions of near term OTM call buying
- Call me a conspiracy theorist today
- Selling the Wheat long idea today