Following a long tumultous 3 weeks at House Fly, I am prepared to maneuver into this market this market with space alien magician qualities. I have taken it upon myself to cull many stale positions and have begun the process of replacing them.
The narratives present today were the following.
- Apple warned about China, but it’s backward looking so buy Apple.
- Car manufacturers are redeploying assets into China to re-start production.
- Gold and cryptos are flying high.
- Oil is still under pressure, but stable.
- The Euro is at a 3yr low vs the dollar.
- Tesla continues higher, up another 7% today. I will hit $1,000 soon.
- The coronavirus fears have subsides, in spite of the data saying the opposite.
- Bloomberg is surging in polls, a bullish candidate for the DNC
I might be missing one or two other items, but not much. Thus far, I am having a banner year, only recently hamstrung by a series of poorly timed trades. I don’t want to use my personal issues as an excuse, but they have played a factor in me getting started late and not being able to “absorb” the market the way I normally do. Nevertheless, up more than 40% for the year in my trading account isn’t something to feel bad about.
I am also extremely happy with the performance of my Quant, which continues to crush the SPY. We have low rates, accommodative Fed policy, solid earnings, and a dissipating plague. What could go wrong?If you enjoy the content at iBankCoin, please follow us on Twitter