WTI is down 6% now and copper is off by a staggering 4%. The NASDAQ opened down more than 200 and is bouncing off the lows now, led by stocks as stupid as RBLX and DASH. I was leaning long, luckily hedged with a 15% weighting in SOXS and went to cash and locked in a 65bps loss for the day.
What is going to happen is this: FOOLS and BELIEVOORS will be lured into this tape only yo have their heads CLEAVED off their shoulders — as the global recession narrative whirlwinds through the portfolios of FOOLS.
I will not buy CHWY or XPEV or COVID-19 vaccine plays — because I value my game plan more than the small gains and feeling of temporary success that might be gleaned from catching a pivot point higher.
I shall not be fooled — because I know we will trade materially LOWER. If you are still bullish then you are still in denial.If you enjoy the content at iBankCoin, please follow us on Twitter