It wasn’t supposed to be like this. We had the GME business behind us and then out from nowhere a massive spike sent the market tumbling towards fresh daily lows, off more than 400 NASDAQs. I am of course speaking out bond yields, those bastard son of a bitches that plague us and stop us from financing for close to nothing.
We are in there midst of a CATASTROPHIC melt up in rates, as the 10yr swims freely higher by 10bps to 1.5%. The fear is the Fed lost control and this is it — the end. Fin. But those people are wrong and have always been wrong, ever since birth. I will tell you this is a temporary glitch and we will soon get back to popping champagne corks into each other’s eyelids.
On the matter of GME: there is a biblical styled blood vendetta out for Melvin Capital and Citadel by ordinary folk with $40 in their brokerage accounts on Reddit. I expect nothing less than $1,000 in GME; but I had to sell — for the sake of all that is good and fortunate.
I am up 500bps now, 80% cash, in the tall grass waiting for my next prey.Comments »