Back to Sniper Mode...for Now

With ARKK up by nearly 5% off the open as I write this and a broad market fade scenario now, perhaps, a bit too obvious to actually happen, I took the opportunity with my SOXS long (the triple-bear semiconductor ETF) actually green earlier to lock in a gain there with Members. I also closed out a HD Short which I had held for a while, and took an overnight loss on a VXX long. 

While I remain unconvinced that the Nasdaq and indeed growth stocks at-large have hit *the* bottom, especially given the lack of genuine fearful sentiment as well as macro headwinds, I admit we could easily be at *a* bottom if only for a respite from the recent selling. 

As a result, with sports betting becoming legalized in more and more states, recently New York, it would be an outright shame not to see the likes of DKNG and PENN at least enjoy some type of relief rally as we head into the heart of the NFL playoffs and thus the biggest betting events of the year for all sports books, culminating with the Super Bowl in a few weeks. 

Without question, they have been terrible of late. But with ARKK on the move for some relief, excuses are running thin for DKNG and PENN, let alone most growth stocks, to get off the mat for a day or two.