I recovered all of earlier losses, with very little trading, because the universe reached back and grabbed me by my lips and tossed me forward, as a gentleman of my stature and circumstance should. It wasn’t easy watching the market do nothing throughout the day, but I managed to remain entertained through a little of this, and a little of that.
Note of importance: nothing stops the pressure higher. However, if you’re trading today’s hot stock — you are literally playing financial roulette. There has been a rotation into more macro oriented plays. If you don’t believe me, look at CLF, X and other big industrials. Fact of the matter is, momentum stocks are no longer pistol hot. Recognize that you’ve been climbing a slippery wall of feces and fall back into the bosom of the market — grab macro exposure and let the rippers populate a minor part of your exposure.
I closed out the week down nearly 200bps, making that two bad weeks in a row. However, I am still up 5% for the month and possess an unreal mind for this business and will, without question, outstrip you. You might try to do better than me, but you’ll fall flat on your fucking faces — as you should.If you enjoy the content at iBankCoin, please follow us on Twitter