Does it matter if we’re in a bear market or not? It’s just a label. But prices are sucking lower and bulltards are getting wiped the fuck out clean — removing them physically from their money. I’ll have you know, I am getting LIT THE FUCK UP in my long term account today, but somewhat hedged in my short term with gains in gold, FAZ, and DRIP.
I stepped in and bought some EGO today, thinking the recent bull market in gold lifts junior miners like EGO. There is a potential large upside in a piece of shit like EGO. I do not pretend to know the first thing about gold mining — but I know sentiment and numbers and people are scared AF, in search for havens.
My longs in my trading account will remain until my 10% stops are met. The point of having both longs and shorts is to profit from the spread, which I am doing so today. I was not 100% short because I was cautious. Today I am emboldened by the action to get even MOAR bearish — but, truthfully, it’s times like this that produce sellers exhaustion or some sort of tweet that buoy stocks.
My bias is inexorably for lower prices. However, I am not positioned to make a grande sum on the downside just yet. I am uneasy to short too much into the hole.
Here’s that Gundlach clip.
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Ah, Mr. Fly. Investor confidence is well and truly shattered. We’re not going anywhere near ATH anytime soon.
ATH by April.
I never really appreciated your sense of humor before. Nice deadpan delivery
Utilities had their worst day in (large number) of weeks -3.4%
They couldn’t have had worse timing: they are forming a double-top on a 1-yr time frame.
They are the poster child for “dividend stocks” This would indicate that investors are rushing out to buy bonds instead of even low-risk stocks, which is very bad news for bulls.
If XLU does not make an ATH this week, then I’m going to buy Feb deep OTM puts on high-risk stocks.