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.If you enjoy the content at iBankCoin, please follow us on Twitter