So the President and everyone else has COVID-19 and we’re not in the process of pricing it in. I walked into today, hoping my cock would drag to the floor — because I had a 4x TZA position. I ended up selling it for a monstrous 220bps loss on my portfolio. The sequence of events today baffled me from morning until close.
Oil lower by 4.5%, yet oil stocks were up.
Copper +nearly 4%. Why?
The Nasdaq lower by 250, yet the IWM was +0.66% and small caps up more than 1.5% for the session.
A wide swath of industries boomed, all tethered to the REOPENING trade. I am talking about business furniture like SCS and commercial and retail real estate like MAG and MTG — all thru the roof. Look at AGO. Banks in general, very strong.
Then we had pockets of strength in a sundry of places, particularly lithium. I played WWR today and was happy to make 5% in a day trade. But then it proceeded to sun shot higher by 45% within minutes of my sale. The same thing with NNOX. I sold it just before the close yesterday, due to a Muddy Waters bearish note, and that ripped higher by 57% today. Not to mention, I traded CBAT today and sold it for a fast 11% gain, and that ran another 10% within seconds of my sale.
Industrials were also VERY VERY strong and for the life of me I cannot understand what the market is trying to communicate. This much I do know — I ended up the week 100% long, fully positioned for an extreme lashing about the face next week. I shed 2.4% for the week and although I made 8% during September, my mood is grim and cantankerous.
On the other hand, my Quant made 2.8% for the week, meaning I had net gains. Fly wins all the time, yada, yada, yada.
Finally, all day inside of the very dark and evil Exodus, I was entreated to rude and belligerent behavior. A full uprising is underway and I am without a Quartermaster. I am pleased to announce ZOMBIE came thru late in the day, like a warrior on a white stallion, to set some fuckers straight. But it is pandemonium and I might have to kill some of my members in order to get th rest of them in line again.
Cheers and have a nice BOOZE FREE weekend.If you enjoy the content at iBankCoin, please follow us on Twitter