Look at me — successful yet again — up 133bps for the session, fully composed and collected in the demeanor one would expect from an un-frienzied man of extreme achievement. There was never a second during this tape in which I was not fully in control.
Granted, I was buttressed and buoyed by the obscene melt up in High Beta stock, who leapt ahead by 500bps — ending the sesh at the highs and with the cocks of bears laid strewn across the pavement.
Rates COLLAPSED by 8bps today and that’s all we needed to jimmy higher. However, due to the fanatical demeanor of this run, I switched back to very high priced stocks in order to avoid the Third Estate machinations and avoid any large drawdown into the final days of January.
I am up nearly 5% for the month and my riskiest bet is $RUM. I envision shares of Rumble tripling from present levels, laying waste to the plots and schemes of the globohomo — a cadre of people who are waging war against the free people of the west.
At any rate, it was a whimsically wondrous session with gains for all who went long and had the eternal fortitude to remain long in spite of the deleterious news and subsequent spikes in rates. It seems everything is calm again and Wall Street is pricing in more of the same, which is good for stocks because the money supply is ample and wealth at record highs. People love stocks because of recency bias and they want more money to buy things: homes, jewels, clothes, and cars. We are living during a period of wanton excess, especially for those keen enough to rig the game in their favor.
I cannot in good faith offer any bearish commentary after a day like today, other than to remind you pride comes before the fall and although the Sun Also Rises — it also sets.
See you catamites tomorrow.
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