You’ll want to feel like you did last month, a common trait amongst all addicts. You’ll throw your money around sentimentally, hoping to repeat past glories, running headlong into brick walls hoping to find a road etched into it like in the Wile E Coyote cartoons. I hate to be the clarity you need, since I do not enjoy being the bearer of dreadful news. But it’s over. The bull market might not be gone — but the speculative bubble that was going to take us to the moon and back is nothing more than a faint memory now, a moment in time when people got carried away.
Prices are deflating in a number of “hot” sectors and has been for more than a month. There wasn’t ever any underpinning behind this move; therefore, it will transcend and sink into dust.
I have take blows today, as my NFT gambit fell flat. I am presently off by 240bps, but have already begun redecorating my portfolio and more importantly mentally preparing myself to deal with this new reality. Like you, I too want more and to see the sun rise over PLUG and to see Elon Musk’s net worth balloon to $1 trillion while also watching him shit on the SEC.
The new reality will be rooted in fundamentals and slow moving stocks — molasses dripping off the counter into a sauce pan. Slop it up.
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I’m buying palladium on the advice of Richard Weiner. He’s the big swinging dick around these parts.
Russell approaching uptrend line …covered short (but don’t mistake me for an optimist). Now short S+P. …and finally, VIX waking up to end times.