Daily Note

Three Thoughts For Today

Sep 2, 2020

Thomas Thornton

  • 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
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