18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,492 Blog Posts

Small Caps Wrecked Again

I was fortunate to have been long crypto derivative plays CAN and MARA this morning and ended up selling out of everything — locking in a 40bps gain. My quant seems to always do well during this sort of tape and is now at highs of day +78bps and my YOLO account was only long UDOW and is now in cash, +55bps. All around, a gentleman’s day, with austere gains, nothing too ribald or unsavory.

I have since redeployed my assets into OLDE MAN stocks — canned soup vendors and person’s interested in the Kraft of ketchup. I am 58% cash, the rest old man — eagerly looking towards the coming CRASH in markets to justify my austere position.

We will likely do nothing today and I have been trading poorly, so I doubt very much it’s a good idea to risk too much in a tape as cancerous as this. Gains are concentrated in RISK OFF names today, Utes, divvy payers etc. We are seeing the 10yr COLLAPSE in yield today 5bps to 1.32% and it’s also notable that Consumer Sentiment plugged lower to 11 year lows, even lower than peak COVID crisis.

The world is in disarray and everyone is of course concerned about catching the virus with a 99.85% survival rate. You will be fine and your family will be fine — be smart and be vigilant and also buy olde man stocks.

If you enjoy the content at iBankCoin, please follow us on Twitter