iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,417 Blog Posts

$SMCI LEADS THE WAY LOWER

Markets get hyper fixated in themes from time to time. Presently, the market obsessed with shares of $SMCI and as it goes — it seems — so goes the market. Shares are taking another drubbing today, off by 8% — which is sinking the $IWM down heavily by 0.75%. The market is mired in a vicious selloff amidst high beta trading stocks, down another 2.8% for the session.

The last 7 sessions for my High Beta index inside Stocklabs.

-5.49%
+4.7%
+1.03%
-2.08%
-0.12%
-2.95%
-2.8% (today)

See pal, it’s over and you’re just hearing about it now.

Since I predicted this, I had $SQQQ, $TZA and $LABD into today, alongside some low beta defensive stocks, and stand before you with gains of 9bps. I am not attempting to make a killing on the downside — just not get killed and preserve my gains.

I do not have any hedges now — just cash of 35% — eagerly awaiting a rigged hour or two where green candles run in abundance into the final hours of trade.

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