Here’s your trade on $SARK – November 2, 2022
SARK ARKK TSP CRSP
The Fed hiked rates another 75 basis points and basically said, we’re not done. I know you would like us to be done, but we’re not done. What they are really looking to do is, they just basically said it, we want to crush the economy, we want to crash the market so that we can rein in inflation.
It’s not a good thing but inflation is not a good thing. Whether that’s the right thing to do or not is not mine to say, so we just have to say that’s what’s happening. With that, what are we going to do? I don’t see a whole lot to be working on here, right now. I think that you want to just be really conservative with what you are doing.
However, SARK ( NASDAQ: SARK ), is the inverse ETF of Cathie Wood’s brainchild here, the newest oracle of everything. She owns all the shit stocks basically ( NASDAQ: TSP ), ( NASDAQ: CRSP ), there I said it. So when we look at SARK ( NASDAQ: SARK ), this is the inverse.
Now, you are not going to get a big move up here because the only way this would happen is if the market totally tanks and I don’t think it’s going to do that. This kind of seems to me like it is more of a slow bleed, there is no capitulation in sight.
Now, here’s the thing, whenever you see capitulation it was never really in sight, that’s the nature of capitulation, it surprises everybody. But it just feels, to me like we are kind of getting this slow bleed down to hell.
And so I am not really expecting this big massive spike in SARK ( NASDAQ: SARK ). This sure is looking like a pretty well-defined trade. It’s down here and then you can see it drifting right along the 200-day moving average, a nice little pullback like this.
So what I would be looking for here on another down day, it may take a day or two for this to consolidate here, but I would be looking for more of this type of thing. And frankly, yes, my target, I don’t know whether it will hit it or not so it certainly is not a prediction, but if this starts to move it just seems to me like this would be a pretty good place to be shooting for.
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