What Is Happening The bulls seemed to get excited that the correction was over last week as the market had a minor increase. This was a time to short the high-fliers, not buy stocks. The FANG is getting crushed today and so is the GEFT. A notable underperformer of that group is Fitbit which is down over 7% today. This was my latest stock I have gone negative on. My positioning Today I shorted Amazon at $606 and Facebook at $99.10. When the market gives you a high beta stock as a gift, you short it. This market has much lower to go as it prices in a recession. I have a YouTube video coming out today re-iterating this point. For the year, my portfolio is down less than 1% while the S&P 500 is down about 8%. Comments on Boston Beer Universally I have see negative responses to my bearish article on Boston Beer. I cited my record on the stock going back to early December when I initially said to sell the stock. The stock is down 23% since then. I have two things to note about the comments. The first is the lack of awareness on the rate of change. The commenters are not aware that the slowing growth is a leading indicator for negative growth. The second point is that commenters are saying that craft drinkers won't trade down. My response is if they lose their jobs they will! If the consumer has less money in its pocket, it will spend less on expensive beer; it's that simple.