Risk Averse

Yesterday before the close I really increased my risk profile heading into today, thinking perhaps it was time to get a real absurd rally to the upside, perhaps celebrating the end of the Biden regime.

Alas it looked promising as NASDAQ futures climbed above +100. But I ended up going completely to cash again, following yet another sell the open collapse, booking gains of +37bps. For the month, I’m now up nearly 5%, close enough to my goal of achieving a 6% gain per month because I fully intend to double my account in 2024.

In short, my risk profile is back to averse. The small caps are like lead balloons in this tape and every time they look to breakout — they collapse.

Larger caps are fine and generally make new highs daily — but they’re not nearly as fun.

I’ll get back into the market later this afternoon.