Greetings and salutations.
In the morning trade I covered my shorts and flipped many of my positions only to re-buy many of them and many other SAAS stocks and now sit +85bps for the session. This is all we get, a meager +0.9% on the IWM for Xmas.
Although I’d like to feel good about it I suspect we could get raped by the bell. Breadth is an ABYSMAL 18% for tera caps and 68% for small caps, meaning if you weren’t long small caps today you’re hammered to dust. Moreover, this means most hedge funds and investors are down and the weakest of hands are making coin today.
Do you trust these people into the weekend?
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