I got fucking wrecked in my NUGT overnighter and let’s not mention my other two 3x inverse vehicles. Sure, China is on the verge of breaking 10,000 legs in Hong Kong and Trump is getting impeached — because he fired Bolton. But do equity owners give a shit? Inflows and a dramatic increase of American wealth have left us in a permanent state of bullishness. When I used to say “nothing can stop stocks” — I used to joke. Now it’s serious. Nothing can stop the upward melt, not war, not rates, not the economy. Nothing.
I find myself in the midge of a dreadful trading spate, slipping up steps, breaking my jaw en route to my destination.
My last 10 trades:
KL +6.7%
(HUBS -7.7%)
(SOXS -6%)
PG +4.8%
(DDOG -10.5%)
(NET -8.1%)
JFIN +3.5%
DUST +8.5%
(LK -3.8%)
(NUGT -9.8%)
How do we deal with these runs? 50% cash, careful not to let things slip too far. Bad streaks are part and parcel of trading. For whatever reason, my connection to price action has been impaired. The way I am seeing stocks, the inputs I absorb, are creating false signals — resulting in losses. In the past, I’d double down on mistakes in a stubborn attempt to win. I do have a gigantic position on the books now that will be closed out tomorrow.
More on that tomorrow.
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Trump should wear Hillary-face to start october. Sort of a combination of Halloween&Aprilfools
I don’t have any idea what will happen.
But I believe that NOTHING is out of the question or off the table.
https://www.youtube.com/watch?v=7eqaWg1tgvw
That sounds like the emotion and query that goes along with living precariously. But it’s always been the same since decades. We live precariously.
Well is some ways the same, but in other ways quite different this time. Interest rates are at 5,000 year lows for the entire world. That is fact and has never happened before. Negative interest rates are like anti-gravity. We understand the concept, but we’ve never seen it in nature. What unnatural zombie black swans might be spawned?
I’ve listened to him all year out of the box thinker hate his gold thinking.
The best the bulls could hope for is an interim trade deal at this point. The event risks have never been higher, and earnings will be sluggish at best. Base metals down, energy down, rates down, dollar up – this is not favorable for US stock market bulls. I don’t know how this plays out, but I’d lean towards a heart attack drop in equities in coming weeks. On that note, I will NOT be shorting equities. Waiting in the tall grass.
Very inspirational Fly, the way you stand up and own your shit.
I wish the rest of the world was like that.
Well done sir.
The fuckery this month is tough to trade. October will be interesting.
So what is it called when professional politicians and their powerful unelected friends are so afraid that a person actually knows the truth of the incredibly wrong things they do and have done that they jump to be first to falsely accuse said person of what they themselves are guilty in doing? Whoever smelt it delt it. Long silver yo