I was fucked in an array of different ways this morning, stemming from blow ups in ANF, URBN and a poorly timed sale in IONQ. I had some upside in WDC, NUE, and COP — but it didn’t make up the difference in a market ripping higher and me with 30% of my portfolio SHORT leveraged instruments. Since then, markets have suddenly, and all at once, given up much of their gains — but I do not and will not get too excited about it.
Again, during the National Festival week, it is atypical to expect markets to plunge lower. I see they sort of want to plunge lower with many cool stocks knifing down now — but I will not get excited.
Because whilst this is occurring in the IWM and “cool stocks”, there is strength in banks, coils and cryptos. I cannot, as I’ve said earlier, get too excited over the prospects that might leveraged instruments SHORT the market might appreciate in value — which they are — but I cannot let that taint my bias.
Down 60bps, cool as a cucumber.If you enjoy the content at iBankCoin, please follow us on Twitter