We all want society to burn, from the bottom up. All of the people caught in a house of fire, burnt crisp from the convexity of it all. But, to be honest, aside from the shit-show PTON IPO — this tape doesn’t look too bad. It’s your normal run of the mill sell off.
Old man stocks are running hot, so I sold out of my PG position for a 4.8% gain. I don’t have it in me to play the long game with these fucking old man stocks. It is tempting to buy utes and REITs, but fuck that. I own WEC from about a month ago and barely up.
I still have a 10% bearish position on this fucking market and a shit-load of cash. I suppose I’ll just wait around for something fun to happen and then POUNCE on something and really take action. Who knows? Anything can happen. Anyone can get shot.
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Harder to be bullish when the S&P can’t get back to 3000.
The most bullsih things are that retail sales continue to do well overall, and that housing seem to be recovering. However, the recovery should have an asterisk next to it, given the plummet in mortgage rates:
Using the default settings (https://www.mortgagecalculator.org/)
Nov 2018: 5% -> $1571/month
Aug 2019: 3.5% -> $1361/month (-15%)
Current: 3.8% -> $1402/month
This should go without saying but usually is forgotten: the housing market is HIGHLY dependant on interst rates.
Biotech is gettign destroyed: https://money.cnn.com/quote/chart/chart.html?symb=ibb
If you beleive in descendign triangles, H&S (3yr cahrt), you’ll short this. If you beleive in ATHs, you’ll go long.
Trump seems super thirsty for a China deal now.
FDX getting ready for another leg down …or did they paint it to lure me in?