By covering I mean selling my idiot inverse ETFs: SOXS, TZA, FAZ, and TMV. They looked like a good idea when I bought them — but they aren’t anymore. By taking the L, I free my longs to sprint naked in the fields without restraint.
Meanwhile King Shitcoin just broke out past $10k. While that might seem significant, glance over at the chart to see how stupid it is — big picture-wise.
The working theory now is to simply sit back and eat sandwiches all day, shitposting online, making money in stocks just for showing up. We can ensure this outcome two ways.
1. Using a quantitative strategy, like what I have going in Exodus.
2. Loitering in the Pelican Room in Exodus for new ideas.
Either way, all roads end up in one place.
Breadth is abysmal at 63% and I am not keen on adding all of the cash I just raised from the sales into stocks here. But the panic has subsided and the bulls are back in charge, so holding shorts now is just stubborn and nonsensical — a trade designed for idiots. Hopefully with the cash I raised I can buy some dips tomorrow, or perhaps later on today.
After such a glorious run up, one should expect the market to moderate a bit here — perhaps even plunge just about the time when everyone else gets back in. As you know, I did buy RIOT this morning, basically due to my unchecked greed. But I also sold BITA for a 10% win and still own a great deal of rapidly declining inverse ETFs.
Why, I could imagine the glory now — seeing the market reverse and decapitate all of the late comers, while I nosh on a vegan snack of my choosing, profiting handsomely and terrifically in my ETFs that are designed to lose money.
Heck, I deserve the wins, me being the benevolent kind hearted person that I am.
Some of you, on the other hand, are awful people and deserve nothing other than the black flag. As God is my witness, I will pray for your extinction.
The British Medical Journal published a study that says eating shitty processed foods cause cancer.
Researchers in Paris studies the medical record of 10,000 adults and cross referenced their intake of food items — amounting to more than 3,000, and found that foods such as processed cakes, chicken nuggets, mass produced bread, soda, confectionary and processed meat increased risks of getting cancer.
In fact, it showed that as little as a 10% increase in consuming this shitty foods led to a 12% bump in cancer.
Naturally, processed food fags are having a fucking stroke over this and are in hyper-shill mode trying to kill the story. The common rebuttal is ‘urging caution’ and reminding normies to have a ‘balanced diet’ while also advertising Dorito flavored Taco Bell cancer bombs.
Processed foods amount to a staggering 50% of the average person’s diet in several western countries — such as ‘Merica.
“If confirmed in other populations and settings, these results suggest that the rapidly increasing consumption of ultra-processed foods may drive an increasing burden of cancer in the next decades,” the researchers said.
Here is the absolute state of Cancer Research U.K.:
“People shouldn’t worry about eating a bit of processed food here and there based on this study. There is good evidence that too little fruit, vegetables and fiber and too much processed and red meat in our diets can contribute to the development of some types of cancer,” Linda Bauld, Cancer Research U.K.’s prevention expert, said in an email.
“Eating a balanced diet, avoiding junk food and maintaining a healthy weight are things we can all do to help stack the odds in our favor,” she added.
In other words, keep eating MCD and frozen tendies, in spite of the fact researchers found a marked increase in cancer rates in people in a LARGE DATA SET, rubber stamped by a cancer prevention ‘expert’ who probably gets grants by General Mills.
The 10yr bond is ticking up to 2.93% this morning. When it finally reaches 3.00%, I am told the world will end. Insane Ray Dalio has increased his short position at Bridgewater to $22 billion.
You’ve got to get into the cryptos or at a minimum the crypto proxies. “The Fly” is never wrong and even when he is wrong — he is right.
So why are stocks running so hard after hotter than expected inflation data, in spite of the fact that rates are edging higher. CNBC’s Steve Liesman has a few ideas. I like his last one — black boxes ignoring humans and instead trading on algorithms.
Whatever the reason — stocks are traveling along the past of least resistance and are now going up in spite of higher rates, which is a narrative pivot.
Gapping up
In reaction to strong earnings/guidance:
TRIP +17.2%, SEDG +15.6%, PKD +15.5%, SDPI +14.2%, YNDX +8.4%, DRD +8.1%, CTL +7.7%, CSCO +7.3%, ACOR +5.5%, VNDA +5%, ARRS +4.2%, CC +4.2%, A +4%, LPI +4%, USFD +4%, WM +3.7%, MMLP +3.5%, MRO +3.5%, AVP +3.5%, KIM +3.4%, GG +3%, AEG +2.8%, CCE +2.7%, HII +2.6%, GEL +2.5%, CVE +2.4%, CF +2.2%, ECA +2.2%, ZTS +2.1%, GROW +2%, INCY +2%, NLY +1.8%, SB +1.4%, CYBR +1.4%, GPN +1.3%
M&A news:
SHLM +8.7% (to be acquired by LyondellBasell (LYB) for $2.25 bln, or $42/share)
NOK +1.6% (initiates strategic review of its Digital Health business)
Select names showing strength following following 13F filings:
TEVA +7.6% (Berkshire Hathaway and Jana disclose new position)
OSTK +5.7% (Soros Fund Management discloses new stake)
SWN +2.7% (new Third Point /Dan Loeb stake)
CVG +2.3% (Elliott Management discloses new stake)
JCP +1.6% (Greenlight Capital – David Einhorn – disclosed new stake)
NFLX +0.9% (Third Point disclosed new stake)
BHF +0.9% (David Einhorn’s Greenlight Capital disclosed new stake)
Other news:
ATRS +20.2% (FDA approval of partner’s product utilizing QuickShot Auto Injector), AMAG +19.8% (FDA approved Makena subcutaneous auto-injector to reduce risk of preterm birth; to file NDA for Bremelanotide later this quarter), COOL +17.6% (was initiated with Overweight rating and $70 tgt at Cantor Fitzgerald after the close), OMER +14.7% (announces new results from the company’s ongoing Phase 2 study of OMS721 evaluating patients with hematopoietic stem cell transplant-associated thrombotic microangiopathy), ARWR +9.7% (receives regulatory clearance to begin Phase 1/2 study of ARO=HBV for treatment of Hepatitis B), HIIQ +7.6% (executed a consent order granting a Certificate of Authority to conduct business as a third-party insurance administrator in the State of Florida to Health Plan Intermediaries Holdings), SBCF +5% (will replace Deltic Timber (DEL) in the S&P SmallCap 600), AXON +4.9% (initiated a corporate realignment to focus its efforts and resources on its ongoing and future programs that included a reduction in its workforce), BLDP +3.2% (wins $4.2 mln program to develop next-gen air-cooled fuel cell stack for forklift trucks ), NBIX +3.1% (Neurocrine Biosci announced that the FDA has provided guidance on the regulatory path forward to support the New Drug Application NDA for Opicapone), TRVG +2.2% (following TRIP results), BEN +2% (announces $3 special dividend), RMBS +1.5% (Rambus signs license agreement with Gemalto to protect against side-channel attacks ), SHPG +1.5% (FDA accepted the CINRYZE sBLA to expand the currently approved indication to include children aged 6 years and older with hereditary angioedema), TRP +1.5% (will move forward with a $2.4 billion expansion of its NGTL System), CRBP +1.4% (announces data from a human clinical model shows that lenabasum (formerly known as anabasum) is an activator of resolution of innate immune responses and is the first experimental therapeutic shown to activate this pathway in humans), BAC +1.1% (reports out that Amazon/ BofA partnering for lending program; also new Senator Investment Group and Owl Creek disclosed news stakes, Appaloosa/David Tepper increased stake), PCLN +1.1% (following TRIP results; also Meritage disclosed new stake), EXPE +1% (following TRIP results), .
Analyst comments:
ADVM +4.6% (resumed with a Overweight at Piper Jaffray)
CRM +2.2% (upgraded to Buy from Hold at Jefferies)
BIDU +2% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
DNOW +2% (upgraded to Buy from Neutral at Seaport Global Securities)
CRTO +1.8% (upgraded to Overweight from Sector Weight at KeyBanc Capital Mkts)
BMY +1.5% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
KLAC +1.5% (upgraded to Buy from Neutral at Citigroup)
OHI +1.4% (upgraded to Outperform from Market Perform at Wells Fargo)
BG +1.1% (upgraded to Overweight from Equal-Weight at Stephens)
MRNS +0.8% (initiated with a Buy at H.C. Wainwright; tgt $33 (closed at 6.08 on Wed))
DK +0.7% (upgraded to Neutral from Underperform at BofA/Merrill)
PBYI +0.7% (added to US Focus List at Citigroup)
I expect to be eviscerated in my inverse ETFs tomorrow — but will make significant headway in my SHITCOINS and oil holdings. Personally, I’m a big fan of the frackers — regardless of how redundant that might sound. Truth is, America needs more oil and to do so, we need to inject harsh chemicals into the earth — which in turn make some of the drinkable water highly flammable. This is a form of eugenics which is designed to eliminate the weaker forms of DNA amongst our grotesque people.
I’m a BIG fan of FTK and ESV.
Moving on, I like INS, ETH, ELF and STORJ SHITCOINS — which are sharply higher this evening, as BTC nears 10,000 and LTC shoots through the fucking rafters up 30% for the session.
Nasdaq futures are +45 and I just realized that I type very fast — but only do so with my two index fingers — as if I am was monkey hitting the keys of s typewriter.
Markets exploded with joy today, after an early morning scare caused a plunge in futures. I was out most of the day — but was still around enough to see that everything melted up — especially inflation related issues, such as gold and oil.
It was a grande day, marking a V shaped recovery from the ‘correction’ we just endured the past two weeks. Everyone got scared — lost their cocks — and now we’re right back where we started — nearing new record highs.
The Nasdaq is just 3% off the highs and the SPY is 4.2%. With a little patience and some animal instincts, we should be able to get all of it back inside of a fortnight.
I’m getting harangued in my inverse ETFs, but have more than made up for their underperformance with my longs. The bulk of my money is invested systematically and that’s up 1.5% for the session.
I might take a trade before the end of the day, or maybe not. I’m not a fan of chasing gold — but do like oil here. My interests lie in the crypto proxy space, however, seeing BTC lift through the fucking roof again. If you missed out on the crypto run for the past 3 years, this is your chance to buy the fucking dips.
Sorry I have been out all day and need to run fast.
In short, I had no time to do anything and still own those dastardly inverse ETFs. I am, however, nicely hedged, AND MOAR, by the following pastiche of stocks.
My quant portfolio is +0.4%. If any of you emailed me for Exodus trials, I’ll get to it later. Sorry.
Happy Valentine’s Day you filthy animals. I think you should shower and shave today — skip all of the unnecessary bouts of autism and focus on the emotional well being of your loved one.
As for me, I am marveling at the prospects of cryptos — which are feverishly higher this morning. This, as you know, will propel shares of crypto proxies much higher today. For that, I am blessed.
Total market cap now stands at $437 billion, still a solid $370 billion from the highs — however upward marching.
Futures are +125 — because cryptos are in control of the stock market now.
