A little cheat sheet tip for you: whenever you see SAAS stocks legging higher — a rally isn’t too far in the future. At the open of trade this morning, several things were made abundantly clear. Oil stocks were out and tech was in. Also, the $BTC soared, but the miners COLLAPSED — on the false assumption that the BTC ETF will somehow displace the miners and $MSTR. I do not believe this to be the case. People can’t fucking think straight while eating breakfast, apparently.
At any rate, this tape appears tricky, but it really isn’t.
Retail, tech, industrials, semis and just about everything in between are going up, save the entire basic material space, tankers/shippers etc. The rotation is clear: back into stocks that went down the past 2 weeks.
I closed out my shorts and went long, but remain 75% cash. I will likely add more exposure but do not want to chase a rally that might not go much further than already has.
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