By covering I mean selling my idiot inverse ETFs: SOXS, TZA, FAZ, and TMV. They looked like a good idea when I bought them — but they aren’t anymore. By taking the L, I free my longs to sprint naked in the fields without restraint.
Meanwhile King Shitcoin just broke out past $10k. While that might seem significant, glance over at the chart to see how stupid it is — big picture-wise.
The working theory now is to simply sit back and eat sandwiches all day, shitposting online, making money in stocks just for showing up. We can ensure this outcome two ways.
1. Using a quantitative strategy, like what I have going in Exodus.
2. Loitering in the Pelican Room in Exodus for new ideas.
Either way, all roads end up in one place.
Breadth is abysmal at 63% and I am not keen on adding all of the cash I just raised from the sales into stocks here. But the panic has subsided and the bulls are back in charge, so holding shorts now is just stubborn and nonsensical — a trade designed for idiots. Hopefully with the cash I raised I can buy some dips tomorrow, or perhaps later on today.
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I missed the dip!
Now I feel like I’m going to have to wait another decade for the 3 day opportunity.
Does this week’s low volume concern anyone?
No. Since really becoming involved since 2009 (very passive prior), I’ve had to endure the “low volume” rally comments for 10+ years.
Agreed, low volume is CNBC chatter, don’t be swayed.
Bull is alive, buy on the oversold indicators. Shorting this market (stock indices) is nutz, you will get your face ripped off unless you time it perfect.
Low volume = complacency. Expect market to melt up, with huge – but infrequent – crashes.
Shit, now we have to go short
Ace
I used to beat on people like you in HS.
Sounds homoerotic. Don’t be upset, I gave you SSC.
Just real talk. You come across as someone who craves attention. Fuck off.
TMV is inverse long bond….this trend is a long way from over.
I would say re-short bonds on strong rallies.
Hey that Exodus trail was fun watching everyone in the “Pelican Room” buy inverse ETF right at the bottom.