Way too many market observers have been parsing every word of Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.A) (BRK.B) , who said he sold his entire position in the airlines. People assumed he would have been a shrewd buyer at the lows in March but it turns out he kept his powder dry.
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Unless we get breadth red for some meaningful number of days, we won't get back to even a moderate oversold condition. We simply remain overbought.
These recently downgraded names are displaying both quantitative and technical deterioration.
Let's check a covered-call play in PubMatic.
For many investors, the best way to sell is to have a highly mechanical system that removes subjectivity.