By the way, I am still long DO — up 23% today in bankruptcy. I held all of my inverses because markets did not accelerate into the close and oil weakened, REVERSING a 10% spike to close lower by 3%.
Gold was most impressive and I knew it would. I am positioned there with 10% 0f my assets.
Notable news: Paul Tudor Jones is long Bitcoin. I am long ETH and buy some every month.
Bottom line: I am fully invested, save 5% cash. My longs and shorts are designed to counter one another and I am hopeful to liquidate them and at some point DOUBLE DOWN on my shorts for my greatest and best trade of the year.
Gold adheres to classical charting, old as the hills it is, when it decides. Had me worried yesterday. It could easily fake out tomorrow but somehow I doubt it. Seems gold is part of the play at the moment…
The gold chart belongs on pornhub!
https://robintrack.net/
What is it Robintrack?
Robintrack keeps track of how many Robinhood users hold a particular stock over time. It generates charts showing the relationship between price and popularity, and compiles some lists using the data.
What can it do?
One of the most useful things that you can do with the data that this site provides is to figure out how people are reacting to moves in the market. Depending on if people are buying the dip, getting onboard during a pump because they think it’s going to go higher, or taking profits, this data lets you observe each of those different situations and plan your own trading accordingly.
So, Dot Com bubble, cause every chart is unreal.
Fly, honest question, does this remind you of euphoric buying during dot com bubble.
Read his book.
Not even close.
Those are about the most useless charts ever imagined. There is absolutely no correlation between bullshit Robinhood accounts and stock price. Hard to believe, I know.
This is not the dot com bubble (not yet anyway).
This is more like 1982, specifically the summer of 1982.
We were in the middle of a nasty recession brought on by high interest rates being led by the Fed Chairman Paul Volcker who wanted to break the back of inflation. I bought my first home then with a mortgage rate of about 16%.
Merrill Lynch created one of the first money market funds then (I think the Reserve Fund was first) and it was about 14% (Ready Assets Fund).
Anyway, unemployment was soaring and the economy was trash that summer but equities started climbing and the public couldn’t understand why and most were struck with fear.
Six months later the economy started taking off and by then the market was already up huge.
Mr. Market looks forward.
Fantastic. We are all good now. The world is basically shut down for a couple of months and it only cost us 30% down on the S&P for a few weeks at a cost of up $10 trillion Fed bucks.