Market breadth checked in at 54% today. Market’s were essentially flat, perplexing the bearshitter class into a perplexed state of idiotic stupor. KBIO gapped higher by 116%, dispatching all of the gurus on Stocktwits who told you to sell it short on Friday.
The under current of the tape is bullish. I am constructive on this rally moving forward with vigor.
My holdings advanced by 0.6% today, bringing my gains up to 16.5%.
I am most enthused about my PAH position, which is now up from my basis. The way I’m thinking, Bill Ackman is a a craven lunatic at this juncture in time, down in the sewers of loss, off more than 20% for the year. He’s gonna try his hardest to redeem himself from the bottom quartile of hot shot hedge fund managers.
Pershing Square owns 20% of PAH.
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wonder what this was about . . . Fed To Hold An “Expedited, Closed” Meeting On Monday
at least marginally odd out of the blue Fed announces expedited, closed monday meeting
The various fed heads have been running off at the mouth in the news. Fear? Potent director fallacy? It is not normal. And central planning doesn’t work.
In addition, the old excuse for the failure of central planning was that “the right people weren’t in charge”. The latest one is “they didn’t have enough computers”. That’s right up there with “global warming” morphing into “climate change”.