Reddit in Reverse! Wheels in Motion

It may seem too easy to dismiss the WallStreetBets Reddit Group as being a bunch of whippersnappers who caught lightning in a bottle about two years ago with the various meme stock squeezes in GME and AMC, especially. 

However, I would urge you to take a few moments to read through a popular recent post on the forum here, where a kind of meme-stock-squeeze in reverse strategy was revealed as a way to press stocks lower during a bear market. To my eye, this is a clever strategy and illustrates the acumen of the group to be able to shift gears when necessary, so to speak. 

To be clear, I am not saying to blindly follow these put buys. But I am saying to not dismiss this development out of hand. After all, we saw the power of WSB two years ago, albeit with plenty of theories out there about larger institutions actually doing the heavy lifting on those short squeezes.

But then again, it may be a self-reinforcing prophesy. And who really cares who is behind it if the trade even half as well as the meme stock squeezes did? 

With Members, my general view has been that as we cross over into February the nastiest seasonality of the year, coupled with the generally bearish technicals, Fed, fundamentals, and lack of capitulation yet in this bear market, all point to a major risk of a fresh leg down.

The WSB angle could simply add fuel to the fire and, ironically, get us closer to an actual bottom than the current price action we are seeing. 

As for today's tape, with the S&P 500 still toying with 3850 we have the Fed Minutes at 2pm EST as a possible market moving catalyst.