I kicked out the FNGU trade from yesterday for a 3.5% gain. As tempting as it is to buy DRIP or any number of 3x ETFs, it’s important to stay true to the disciplines that you believe in.
For example, I was bearish on markets because oil was tanking, HYG, SRLN and all of the other high yield crap was tanking. Lo and behold, that isn’t happening anymore. ‘Matter of fact, they’re going up, making me bullish.
Even so, I am 55% cash and reticent to take on any new positions intra-day, since the swings are equal to the weekly ranges. I’ll wait until after 3 to start one, which, admittedly, will likely be on the long side. No matter how you feel about stocks, markets couldn’t give a shit. It’s an emotional beast guided by fear and greed. Right now, you’re all greedy fuckers clamoring for more.If you enjoy the content at iBankCoin, please follow us on Twitter