I moved to 95% cash, kept only NCTY on the books because it’s a crypto miner and cryptos are running and this one is both thin and could short squeeze higher.
I’m +129bps in an unusually calm tape that has done nothing but go up since the open. Had I sold everything at the open my gains would’ve been +29bps. This is one of the rare times holding worked and I held because this is the last trading day ahead of Xmas and said fuck it.
Into the late hours I’ll allocate as I always do: buy the strongest stocks technically ranked by Stocklabs that are within 1% of session highs in all sectors for diversification.
My only reservation is whether to hedge or not. This doesn’t feel like a tape that wants lower.
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It’s 2021. Can we stop calling it a “tape?”