Looks like the place to be right now is on the sidelines, ie cash and T-Bills. Everything else risks being sucked into the vortex of the bear market.
For the S+P 500 the current level to watch is 4000, and below that is the key 20% bear market level of 3840.
When the S+P 500 has dropped 20% (currently 16%), Jim Rickards says that level will usually alter the Fed's decision making process. But this time, who knows, since inflation is running so hot. The Fed is severely boxed in and have little choice but to keep tightening and push the economy into recession. So it could be a prolonged bear market.
Fwiw, I'll probably just sit on the sidelines in cash and not get too clever with it. Rather than trying to profit from the bear (going short, trying to hedge in sectors like energy, commodities, etc), I figure not losing money will be a victory, and then in the aftermath one can go bargain hunting.
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