Good morning lads.
I took in the following bounty this morning, during my opening tick fishing.
BBIO +11.1%
ANAB +3.54%
EIDX – wash
SCPL +1.6%
SGMO +3.3%
EXAS +1%
No big deal, just a little fish in the morning to sup on. I am now presently in 70% cash; but I did buy one stock this morning. Naturally the bulk of my money or 75% of it is invested in a Quant — which is 100% long, so bear in mind when I tell you that my trading account is flexible and quick or hedge or short for a reason — mostly to mitigate for the exposure in the Quant.
Early going I like nothing on the momentum side.
UPDATE: I sold SAGE for a morning day trade, +15%
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That picture is hideous. Who is that?
That’s John McAfee after his facial surgery
Everyone knows that Trump needs the economy to stay steady to have a cahnce at re=ecltion, and that in turn depends on a Chian trade deal. So of course, there are weekly rumors of being close to a trade deal. China has been playign alog, becuae they want a trade deal as well and they figured that saying a trade deal was close put pressure on Trump to fulfill it..
However, it has been increasingly obvious that the *rumor* of a trade deal has been really all that Trump needed for the markets to be happy, and while trade deals are hard, rumors are easy. In a situation where doom and gloom (see Tuesday) messages on trade don’t even lead to a 1% loss near ATH, there is no point in actaully getting a trade deal from Trump’s point of view. However, while Trump benefits from trade deal rumors, China does not.
As a result, China is no longer giving the US a free ride on rumors:
https://www.zerohedge.com/economics/editor-chinas-global-times-taunts-us-farmers-wait-trade-deal-getting-bigger-tractors
https://www.zerohedge.com/markets/trump-skating-thin-ice-fake-trade-news-pump-stocks-uncovered
https://www.zerohedge.com/markets/china-says-us-must-reduce-tariffs-phase-one-trade-deal-amid-stalled-talks