The reason why I sell almost all of my stocks every morning is due to a sense of dread that I cannot shake about the market. I see a shoe dropping around every corner. Every large red candle is a collapse. I find it hard to buy into a tape as obscene as this one and fully expect, at some point, to bear witness to another full blown rout.
HOWEVER, in the meantime I have a job to do. Sometimes I’m not so sure what that job is anymore — but I think I have one. Ergo, I follow the trend and buy stocks even though I don’t want to. I let the trend direct my trades, not my ego — because experience over a lifetime has proven to me that is the best course of action.
Last night Biden mumbled through his state of the union. No real surprises, other than the fact he didn’t drop dead during the live broadcast. The political situation cannot be worse; but I keep telling myself “you live in an economy mic zone, not a country” and that’s keeps me sane. If you, at any point, pretend America has agency or sovereignty of self governance you might become bedraggled my morose thoughts — since nothing makes sense. The market doesn’t make any sense either — but I just hold my nose and jump in anyway.
+31bps early going, mostly cash.
Comments »