Earlier this morning it appeared to be over and now it’s not. Momo stocks led by cannabis is squeezing higher. Stocks like TLRY and GME are in play again and all appears to be well. I am still FESTOONED with inverse ETFs as a sacrifice to the Gods to forgive me for my transgressions. My overnight account, which is very small, was +17% yesterday is up another 6.5% today.
My trading account, which is large, is up 3.9%, thanks in large part to this morning’s winners. My current positions are not doing much and I am inclined to trim my losers before 3pm. We all eagerly await action so that things might get exciting again and I am willing to lose 10% in a day for my beliefs. Nevertheless, we race forward trading space stocks and 3-D printers because the future is a concept worth believing it.
What started off as a mean reversal has proven to be a timid drawdown that is being bought. Into the close I will sell all losers and load up on some volume breakouts for 4am action.
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