It was a nice rally. I hope you enjoyed it.
In response to the psychotic pin action, I sold GE for a 9% loss and bought some SOXS — because NVDA is heading down by another 50%.
Additionally, to hedge against a possible triple head fake rally, I bought LABU — because biotech is strongest and the people who buy biotech are degenerates.
You cannot keep large positions in the tape like this, or trade stubbornly. The longs I accepted into my bosom this morning, might in fact, end up making me some money. But it’ll bet hard. That’s okay. Le Fly is used to toil.
Keep an eye on HYG. Markets are trading on a 1:1 correlation with it.
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Fly, while we are sitting around waiting to see if we take another dip, any new revelations into the Sharpe ratio?
Instead of having to toil with your inane questions, I’d rather just ban you. You actually offer little to negative value on the site. Keep fucking with me and see what happens.
Fly, you have a lot of good advice, but it’s not ALL good advice. I’ve never personally attacked you, but I do have issues with some of your positions sometimes. I assumed that you were confidant enough to take criticism in stride and admit mistakes. Was I wrong?
If so, then you really should ban me, becuase I’m not going to censor myself over financial topics that *you* originally brought up and don’t want to talk about anymore. That’s my choice.
Your choice is to admit you were wrong, defend your position, or ban me.
Your blog, your call, but I’m not going to lose sleep over this.
My son,
One sincerely felt “FIG” and 10 “hail ibcs” …and all is forgiven.
I will say this. “My choice” is only an option because Fly *does* allow pushback.
I’ve seen other well-respected finacial blogs, that have a thin veneer of “profesionalism” , but do not allow any comments, allowing their glaring errors to spread unchecked. I’ve even seen blogs that allow favorabel comments, but delete unfavorable ones.
So for that, I do thank Fly.
PS Good insight on HYG.
Something else to watch is XLU. If people aren’t buying income stocks, then they aren’t buying any other stocks else except for either a very-short (bounce) or very long (buy-and-hold) time frame.
Oil is your tell – we may be attempting to “bottom” or retrace higher (better way to put it). An equity bounce will not be far behind. However, over the course of the next 6 months, there’s likely still lower prices out there. Gold is shredding higher and the best of the USDs day’s are likely behind it. God speed.
I think y’all should consider giving your PM positions more room in this kind of market.
Opportunity in the dystopia … check out:
https://www.hussmanfunds.com/comment/observations/obs181226/