Market Outlook: Slight Bearish Neutral
Portfolio: 50% Bear, 20% Bull, 30% cash
today: weakness continues as the gains of yesterday were completely wiped out. A sideways day that ended up very down. If today was able to recover back in the last hour of trading, i would be at a slight bullish neutral stance, but since it could not even hold onto 1/2 the gains of yesterday, i remain a little more bearish. today i decided to sell a put and buy a call position as i feel the market can really whipsaw in these next few days as we are in an oversold bearish market straddling a main support.
tomorrow: the most bullish sector on my list is the pharma stocks. tech and financials are moving with the market so i am overall bearish on them, despite buying a call option on AAPL today. I believe that pharma can fight the weakness in the market and if it were to turn bullish and hold its ground against the bears, big tech especially GOOG and AAPL will lead the market. On the way down, i am liking the breakdown in sectors such as materials, casino, and energy.
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