All of the bulls pranced into 2024 naked and boastful about the year before — drinking from large goblets brimming with chardonnay. Much to their chagrin, they walked right into a trap — glasses punched into their faces — legs and arms cleaved off clean from their weak bodies.
Ladies and Gentlemen, the great doom of 2024 is here and with it comes fantastical stock market losses. Aware of this and unfooled by the transgendered bulls, I escaped the melee and gained 79bps for the day, session highs for yours truly.
There are two types of traders in this market: those who can trade in a bull market and those who can trade in all markets. You might do well in the bull — but can you stand the fires — when the heat rises to the point of combustion and emotions disconnect from reality causing people to behave irrationally?
This is what you need to understand about 2024, thus far.
High beta stocks have been castrated — largess losses of a horrific varietal can be seen in names such as Square, Affirm, Upstart and Caravana. All of the winners of 2023 have morphed, almost suddenly, into murder holes. I am of the belief that these occurrences might be cause for action, as I am not convinced it’s entirely over — at least not yet.
Into the close, I outfitted myself with a directionally bullish position — betting on the cabals power to see it through. I did take a barbell trade long SQQQ and long TNA — based on my belief that high beta small caps might surge at the open of trade tomorrow.
This is a frightful trade, betting long in the face of harrowing horrors. But this is what us bloggers get paid the BIG BUCKS for, making contrarian calls for the sake of nothing — fleeting and feeble praise by a catamite class of reader — hobbled easily by tradewinds and small flurries.
At some point in 2024, I assure you the fires will burn assiduously and the foundations of Pax Americana will be cracked asunder and all will be lost. But I do not believe that to be the case now and have staked a modest sum at risk for this excursion.
All trades are executed in real time inside Stocklabs.
Good day.
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