I think that fears of the US debt ceiling on December 15 are causing the market to push lower. In this, I currently differ from mainstream media, which says that Omicron variant fears are responsible for this.
SOFI is still on it's range, and I believe it will push higher soon. Going long at current SPY levels is safer than at ATH.
This is the type of short that helps a portfolio stay balanced, in order not to have only longs and be exposed to the overall market trend (SPY, DOW, QQQ) some shorts in the portfolio help resilience and reduce variance.
GE is a Large Cap and so the potential of a huge increase in price and a considerable loss in the short position is reduced.
As you can see from the graph, The Health Care sector has been lagging in comparison to the S&P500.
It's not only oversold on the multiyear range it's been trending at. But also on the RSI.
This position is highly correlated to GILD (posted a couple of days ago) and may be just a tool used by me as Confirmation Bias to keep on hanging :)
