In spite of the grandiose day for large caps, I shorted the Qs via $SQQQ at 11% of assets midday and kept it against my longs, leveraged at 104%.
My view is the following:
We are bullish and any discernment in the area of this market trending higher should be ignored. I stand before you, once again, at RECOURD highs, now pressing +22% for 2024.
My goal, naturally, is to ride this wave until it crests and then time it every so perfectly and sublimely, shorting this fucker into the ground, and perhaps lower. Maybe into the Earth’s inner core where equities can die, once and for all.
It was one of those trend days where risk was on and the shit stocks looked great, but the good companies did little. My fear is for a RUG PULL on Monday, which is why the hedge. Ultimately, we have a directionally bullish move in dollars, stocks, Bitcoin and a bearish trend in bonds, which is due to the trade being crowded ahead of FOMC cuts.
Into next week, we will celebrate our success and drink to good health and refinement.
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