I stepped into today 65% cash, hedged with SQQQ. I sold it today, like a man, for a 13.3% profit. It’s important that you know this and how much I want markets to dive. However, we retested the lows from Friday, having plunged 400 NASDAQS at the open and it’s entirely possible that is all we will see…for now.
The temptation to sell short is palpable, but SPACs and bullshit stocks are running again.
I will be taking on some long bets here, hoping for a rally. If we fail and markets weaken, I will bet heavily against oil.
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SPY 220 incoming
With GMHI, you get a SPAC with the letters G and M in it!
Incumbents, including Trump, Nancy, etc., will want a stimulus package directed to the eaters. Perhaps there’ll be progress, motivated in part by the market’s cracking, as soon as this week. PMs should benefit.