Choose Those Fights Carefully

While it is often said in Wall Street and the gambling world that "scared money is dead money," and there certainly is much truth to that axiom, it is also true that those who tend to frequently throw around that phrase are using it as a crutch to take on far more risk than they know is sound. 

In my case, I am still playing the short side with aggression, but doing so in a selective manner. Case in point: My decision to delve into the financials this week on the short side as opposed to, say, chasing down the semiconductors.

As it turned out, that discipline enabled me to avoid a squeeze we are seeing late-day today, with INTC and ALTR both shooting the moon on rumors of a buyout. However, in recent video recaps I noted the semis were oversold likely ripe for a bounce.

Still, overall, the market could still be setting up for a deeper pullback next week. I have a blend of positions on into the weekend, albeit leaning to the short side. In addition, a marquee issue like TSLA is closing out the week in ominous territory. On the other hand, resilient names like RAD in strong uptrends are still worth a look if the market rallies next week. 

I will cover the market and plenty of ideas in my Weekend Video Strategy Session on Sunday.

Have a great weekend and I will see you there!