My gut tells me that there will be tech rallies but they will fail. I believe that some biotech stocks will do well.
I'm still down on a lot of semiconductor stocks I am holding so although my gut says bad things ahead I am hoping for a rally. To assure a rally we need to see higher TRIN and TRINQ readings along with higher VIX/VXO readings.
Ultimately a real good bottom will be put in when the BPNDX has already gone below 20 and the Newsletter Writers Investment Survey has more Bears than Bulls! And by then the VIX/VXO will be over 40 again.
Anyway, I am mostly in cash. I'm not willing to short without a rally first. I am unwilling to go any more long without higher TRIN and TRINQ reading along with a spike on the VIX to say about 22 for short term trading.
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