This Market is Built for Old Men

Greetings Friendo,

It appears the early 2014 narrative is intact, as the NASDAQ gleefully gallivants higher, everything is getting murdered. The ordinary stock is down 0.65% now, with breadth of only 30%. All the gains are consolidated in mega cap tech and dividend paying stocks. Breadth there is an impressive 80%.

In other words, you are in a pot boiling slow and do not know it. The rotation is happening in front of you and you’re too fucking stupid to see it for what it is. These losses are likely to be PERMANENT. Stocks like PLUG and others will likely never attain their record highs again. That was the high water mark and now we are delving, mind you, back into a melancholic symphony of blandness and 3% daily breakouts.

I have achieved the impossible, swapping out my old man stocks for shit. At one point I was 140% levered, but have since PARED down everything to the bones, now 55% cash. I am presently FLAT for the day, as Mother Market absconded with my gains and spit in my face for daring to buy low cap runners. Everything I bought fell and all the things I watched idly rose. I am fortunate, frankly, to just be flat on this bloody +200 NASDAQ day.