Retarded First Day of 2023

I squandered an early gain via poor trading and ended down 23bps. I can hem and haw about it till the fucking cows get processed into ribeyes — but this is part and parcel of being a tradoooor. Sometimes you crush and other times you flop. To be down 23bps on a day when the NASDAQ was down 76 is acceptable and I will try harder tomorrow!

Myself aside, this was an abysmal day of the longs. They must’ve fashioned themselves to be aristocrats this morning, gazing at the futures atop their steaming mugs of black coffee. I bet they added at the open, fancying themselves to be “takeover artists” like Gordon Gekko. After all, it’s fun to pretend.

By the time their mugs emptied it filled again but with black smoke and their faces took on a minstrel show like quality — as losses stacked and more than that — their confidence shattered.

There is nothing to be enjoyed by today’s first day of trade. If anything, the 4% collapse in crude is warning of harsh economic slowdowns, on par with, and not exclusive to, the deleterious inventory build ups in nearly all US companies. According to Stocklabs, inventories rose 16% last year. Some morons like Target increased their stores by 43%. Now they’ll need to sell all of that shit into a slowing economic backdrop with Mad Dog Powell at the helm, war on the horizon, and doom around the bend.