Strength is concentrated in mega and tera cap. If you’re in smalls and pennies you are fucked. I swapped out my degenerate stocks for old man ones today, taking advantage of KR and a dip in CLX. I also have some longer term ideas that I initiated in my trading and might hold them for awhile. The market is trying to press higher and it might in fact do so.
I am mixed on what to think about crude and commodities. US 10yr is still 1.17% and the idea of run away inflation sans stimulus checks is laughable. I’d look for some sign out of gold to validate my deflationary ideas. Also, the move higher in ETH is over, for now. It was spurred on by the Gary V induced push in NFTs, which for now has abated.
Smart money should be directed towards large companies who are paying dividends in excess of 3%. These are trades, since I believe money can flow there in the event of risk off. Even with a good tape, these are good allocations for anyone looking for yield, which is hard to get now.
Into the final hours, I will manage to do something good. I am down 70bps for the session in trading, up in both trading and YOLO accounts.
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Yea right. I gave a guy who was into pennies a dollar once. No clue what he did with it, but he smiled.
gold goes risk off faster than fuck. I have gold but I know damn well it won’t perform. maximum 4% dividend or risk an enema when it gets cut.