Recent trading action has been about as tough as I’ve ever seen for people who are long and long-term holders. There’s nowhere — no stock and no sector — to hide…
The S&P 500 is down over 14% and in the red seven straight weeks, which hasn’t happened in over two decades... the Nasdaq and Nasdaq 100 (QQQ) are down over 20%... Cathie Wood, the big innovation trader at Ark Investment, is down almost 40% in her flagship ARKK fund...
Wanna hide out in gold? Welp, it’s down over 5%.
Consumer staples is a defensive sector everyone loves in times like this… down over 8%.
Take a look at this chart…
WOOF!
So in times like this, now is a great time to take a step back and reflect, get your mind right and blow off some steam.
There’s more to life than staring at blinking numbers on a computer screen all day.
The pain train steamrolled through town again this week, and there was nowhere to hide… no sectors it didn’t hit… Because the pain train comes for everyone in a bear market — unless you have puts!
*Past performance is not indicative of any future results. Trade at your own risk. From Feb. 25, 2022, through May 4, 2022, five winning positions were issued while four remain open. The average rate of return was 38.33% over a seven-day hold time.
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