I had a feeling today would poleax shorts into the ground and bust their jaws loose. My cynicism of all things obvious caused me to refrain from taking on hedges. Rolling into today, all I am long in my trading account is PG, CANG, and ZUO. Fuck you very much.
There are rumors and rumors of rumors swirling; but you only need to know one thing — stocks are rigged to go higher. During periods of dissipation, stocks are fixing to be rigged higher. On a long enough timeline, stocks trade much much higher. That’s the fucking truth and you can spray paint it on your neighbors’ walls for all I care.
Here’s what’s important to note.
I sold most of my longs yesterday in a trading account that represented 25% of my overall investable assets. The other 75% is tucked away, neatly, in a Quantitative strategy that is participating in this rally. Had I been trading all of my money, I’d be making zero right now. The cash that I have in my trading account may or may not be allocated today. But here’s the point: it is an avocation to trade. I enjoy doing it, but it’s not how I intend to build wealth. Ultimately, stocks trade higher, at least 75% of the time, on an annual basis. If we’re entering a horrible bear market, I expect to lose money in my long term account — but hopefully smart enough and agile enough to limit those losses thru keen trading in my discretionary account.
As for this rally, watch crude. It’ barely up and might mess with the mood by noon.
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