I covered my shorts and pulled off 4 consecutive day trades in MARA, MGI, OPTT and NKLA before settling into a morass of nothingness — despondant to the times I am living in now. Just a fortnight ago, I was kicking people down sewer pipes while printing my own currency in the market. Now we’ve morphed into this bastard of a tape — kicks and ruins all around me. You get kicked, and then ruined — in that order.
I am 75% cash and scared to death to increase that measure — due to the sickness of this tape. High beta stocks are getting absolutely poleaxed today, as the market shows little to no change. It’s the clandestine plunge that hurts the most. Typically, when you see the market diverge like this, smaller caps blowing out — money flows freely into large caps. And that’s exactly what we’re seeing today. The allure of cheap or on sale stocks will convince you to take a shot — but the hole is deep and by the time some of these fucking stocks bottom, like FVRR or JKS, you would have wiped out your account.
Bubble plays are off by 3.5% today, a tempting carrot to try to snack upon. However, the second you try to grab said carrot, Elmer Fudd will blow your fucking brains out onto the pavement.
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