US CPI was relatively benign and below expectations which caused the US indices to move to green in early stages of trading, but as the day progressed and especially towards the end, the selling intensified.
The S&P500 2700 points was not taken out. And I believe about a quarter or a third or perhaps more of Dow component stocks are in bear territory-
20% or more down.
So where to from here? I think US markets could recover tonight or try to find a new base , perhaps a little lower or higher from here. The market will settle and buying will resume again. It is not going to evolve into the Big Kahuna....but it serves as a REMINDER not to be complacent and that the best days are probably nearing over.
Hence I am closing the strong bear position, as well as lock in short term gains on PPS>
COVERAGE DATE STOCKS PRICE ON COVERAGE DATE PRICE @OPEN GAIN% 11/10-close PPS $ 0.925 $ 0.970 4.9% 11/10-close BBUS $ 4.750 $ 4.810 1.3% 3/10 BIT $ 0.140 $ 0.150 7.1% 26/9-close CXL $ 0.735 $ 0.800 8.8% 20/9-close 4DS $ 0.064 $ 0.066 3.1% 3/9 NST $ 8.140 $ 8.940 9.8% 29/8-close SVA $ 0.037 $ 0.035 -5.4% 20/8-close NGI $ 5.810 $ 5.160 -11.2% 8/8-close SFC $ 15.050 $ 16.470 9.4% 6/8-close CGL $ 7.080 $ 7.930 12.0% 31/7-close MYE $ 1.180 $ 1.435 21.6% 30/7-close MP1 $ 4.370 $ 3.990 -8.7% 26/7-close SKF $ 0.150 $ 0.200 33.3% 24/7-close ZEN $ 1.060 $ 0.785 -25.9% 23/7-close CXL $ 0.630 $ 0.830 31.7% 17/7 COE $ 0.445 $ 0.465 4.5% 13/7-close SHL $ 26.500 $ 25.360 -4.3% 29/6 BYE $ 0.340 $ 0.285 -16.2% 28/6-close ATC $ 0.195 $ 0.140 -28.2% 18/6-close A2M $ 10.780 $ 11.490 6.6% 18/6-close CGC $ 8.750 $ 7.240 -17.3% 14/6-close NZK $ 2.240 $ 2.480 10.7% 4/6-close BUB $ 0.830 $ 0.625 -24.7% 15/5-close SW1 $ 0.410 $ 0.380 -7.3% 14/5-close RHC $ 65.420 $ 55.250 -15.5% 9/5-close FYI $ 0.145 $ 0.115 -20.7% 3/5-close 4DS $ 0.057 $ 0.100 75.4% 2/5-close PME $ 8.150 $ 10.860 33.3% 1/5-close TTT $ 1.540 $ 1.525 -1.0% 30/4-close CTD $ 24.880 $ 33.540 34.8% 18/4-close CLV $ 1.030 $ 1.575 52.9% 18/4-close VIV $ 0.054 $ 0.043 -20.4% 11/4-close APX $ 8.820 $ 15.010 70.2% 11/4-close BHP $ 29.440 $ 32.385 10.0% 11/4-close PPS $ 0.595 $ 1.135 90.8% 11/4-close PTB $ 0.545 $ 0.625 14.7% Return @ 9.42% assuming @ $1k even per stock
