We often trade in stocks we’d never want to own long term — because “one more trade” or “just a little bit more.” And then they blow the fuck out and we get caught inside of them — on par with being in a piece of shit car just before it combusts.
Whilst the bellwethers of this market remain intact, we are seeing SEVERE drawdowns amidst plenty of trader favorites — mostly due to terrible earnings.
Here are some 2 week returns that are designed to scare you.
HE (MAUI RELATED) -57%, NVEI -53%, UPST -51%, QS -47%, TGTX- 45%, SE -37%, SAGE -39%, LMND -38%, DOCS -36%, SYM -35%, OPEN -32%, PLUG -31%, IEP -31%, SDGR -30%.
And for some larger capped catastrophes.
PYPL -21%, FTNT -24%, SQ -27%, PLTR -22%, DDOG -24%, NIO -23%, RIVN -24%, RBLX -24%, PAYC -21%, U -22%.
Bro, it’s fucking over. Can’t you see the writing all over the wall — the blood of the bull painted on it? You cannot withstand this sort of barrage without ramifications coming due. I will tell you this now — people hate this market. They view it as artificial and want it to die. I will also tell you that the fundamentals of the economy are extremely tenuous and any substantial pullback in equities will in fact ruin the recovery.
There is a great price to pay for the sins of a nation of grabblers, mountebanks, and grifters. Whether it happens now or later, one thing is for certain — a reckoning is coming.
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