If this is your workflow:
WTI
Oil stocks
High yield
Leverage loans
And all of that shit is higher, then you have to go long now.
Let me repeat and rephrase.
If your core thesis is bearish because oil was tanking, which was pressuring high yields, you cannot hold shorts now with price momentum sharply to the upside. This is why I sold DRIP and DRV this morning for 19% gains. Had I held them until now, I’d be flat.
I have opinions and feel strongly about the risks, but ultimately price action guides my decisions.
Having said that, I sold SJB and FXY, which were both bear market positions. WE ARE NOT IN A BEAR MARKET NOW. Ergo, I will be adding to positions into the bell, based off the large white candle being posted today. Odds are, we shoot higher tomorrow as well.
Bet against me, lose your fucking house.
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Enterprise stocks the new leaders?
Get the pension funds loading up into smackdown. Yeehaw
(Carr) Nice call Fly! Finally, a real rally. Glad I added a ton of calls during the xmas eve dive. Sitting pretty now after lousy timing for going back into swing trading few weeks ago. All the best in 2019!
Big as this move was, it did not break the daily 8 day EMA, but it did break the 5 day.