Things getting back to normal stocks are outperforming again this morning, sending the COVID19 vaccine stocks into the sewer. This has been a fairly consistent trade for more than two weeks, accentuated after Russia claimed to have a vaccine cure.
Meanwhile, breadth is once again dreadful and the sense of being trapped is once again all around me. Since I am fully invested, I have an anxious vibe all around me — mostly because the price action on the screen doesn’t mesh with reality.
On the other hand, selling short has been a suckers bet of magnanimous proportions since March. My plan, for now, is to manage my positions — harvest gains and cut losses when necessary. What I ought to be doing, what I am likely to do, is raise some cash and prepare for some sort of fucking downside — because the never-ending ride higher doesn’t feel the same and the narrow nature of this rally is bound to give way soon.
Just my two cents.
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“Just my two cents.” …humble Fly?
WTF?
Just a wee slump. We don’t need to arrange for an intervention do we?
Re peaceful protests: Bret Weinstein has calculated that WWI was 81% peaceful …WWII was 85% peaceful …and the Kennedy motorcade in Dallas was 99.8% peaceful.