I kept my TZA hedge, but have ample longs to offset it for what I believe will be a breakout day for shit stocks tomorrow. We traded without verve for most of the session, until the last 30 mins, where we saw breadth and scale increase. I am pleased with today’s 40bps win, in spite of underperforming markets. Truth is, I was in the wrong stocks, had to adjust, and ended up in profit. Not much else I could do, as the bands were tight all day and the places to trade rips limited.
I do not think the momo stocks will be back for good. But I suspect they’re due for a reprieve.
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