NASDAQ is +160, yet many high beta trading fuckers are down. This solidifies by belief that the rotation is going to last longer and be chaotic than most believe. I am barely up in a general tape that looks like a casino win. Meanwhile in the real world, market breadth is just 52%, meaning 48% of stocks are DOWN on this grandiose day.
Strength is found concentrated in industrials, coal and steel plays, crypto derivatives, and of course reopening trades such as movie theaters. I am long AMC — not because movies are back — but because people are so desperate to go out they went to see Kong vs Godzilla — which was fucking stupid.
I am trying my best to avoid murderholes — but the trend is clear and you’d be wise to avoid holding small micro cap piece of shit stocks for too long.If you enjoy the content at iBankCoin, please follow us on Twitter