The market is in chaos on Monday morning as it deals with the failure of the 16th largest bank in the country. It is going to take a while for the market to sort this out, and there is still the issue of inflation and hawkish Fed policy.
This is a macro-driven market right now, and there isn’t much value in individual stock picking. Once the volatility slows down, there will be some exceptional opportunities, but we believe the best course of action is to stay patient and wait for price action and market conditions to develop further. We will have many great buy candidates eventually, but it is not prudent to put cash to work at this time.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and buy or sell anytime for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in cash. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.