I closed out my JNUG position from the other day for an 8% gain, ALT for an 1% gain and MARK for a 22% drubbing. I attempted to double down on it yesterday and had gained a considerable amount in the initial bounce from 1.8 to 2.1, but I didn’t sell it and blew the entire trade. Disgusted with myself, I closed the whole thing out today.
The Nasdaq is +115, Dow nearly 200. The news is no longer important. All that matters is, stocks are going higher; therefore, and this goes without saying, the bias is to the upside. Rates are low and liquidity is abundant. Sure, the general economy is dreadful; but no one really cares about that. We’re here playing a video game.
Govt wants to shut down TikTok because there is no censorship there. Like Man in the High Castle, they cannot let you see those videos. The cover story is MUH PRIVACY PROTECTION. But since when has there govt cared about your privacy? China is the new boogey man and so many Americans are sold on the idea that Chinese people all eat dogs for supper and harvest poor people’s organs as a hobby. Therefore, we must ban TikTok. The truth is, and I hate to continuously show you these things because it sucks, they just don’t want you to see the videos.
I’m mostly cash again and have been trading light for weeks. I am distracted, admittedly. But I know the process and how to find winners. I will be going now, off to fish in the market for more stocks to own. Yesterday all I could find was gold stocks to buy — but I didn’t want anything more than JNUG — so here I am with cash now and a need to place it.
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