I closed out the week up 50bps, having absconded with another 50bps today. It was a grande circle jerk, as I fell victim to the rotation out from good stocks and into bullshit big ones. I am saddened by this, even though I know its for the best. Gone are the halcyon days of two months ago, when stocks would pump and after they pumped, they’d pump some more.
We’re all getting teary eyed and sentimental about this evil shift out from PLUG and back into AMZN. This market is now controlled by old money managers and RIA’s who are allocating on behalf of their high net worth clientele. Real stocks with real earnings are seemingly and incredibly in favor.
What is a trader to do but follow this trend? I have tried over and over again to catch the wave of our former glorious momo stocks and no one does it better than me and yet all I could muster is 50bps for the week.
Come Monday I depart for vacation to Savannah, GA and will not blog too often or trade and I am hoping CATACLYSM strikes as I am away. Even though, and this goes without saying, I closed the session with just 11% cash. Whatever.
My quant was up more and actually made 35bps in gains so far. YTD, the quant is crushing the Nasdaq, +21% v 7%.
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