There are zero reasons to buy. Looking at WTI -8% and all of the news, I am shaken to my core — literally shaken. However, I have large balls and truly do not care about losing all of my money. If I was poor and destitute, I’d still be miserable, so what’s the difference?
I bought some ROKU now — because the MUH chart and because I want some exposure to beaten down tech. All of these charts look the same. The mean reversion trade has died. I should know, being the owner of a system that has mean reversion tools. HOWEVER, we’re smart people, very wise, and filled with innovation. There is a hunger in us to create ways and systems to profit from this action. I will see to it that I win, one way or another. For now, the dollar is a hugely important to the sentiment of the market. This is why I’m still long TMF.
Hopium is a strong drug, an aphrodisiac even. Let’s see how we close and god willing tomorrow will bring greater fortunes. We are watching NVDA very closely and I’ll be monitoring the parade of data coming out of China soon. EM is important, but the stability in FX and commodity markets might be the tail that is wagging the dog.
Nevertheless, barreling into Turkey Day, I remain stoically optimistic for a bounce.If you enjoy the content at iBankCoin, please follow us on Twitter