If you positioned in risk averse stocks or SAAS, you were flayed to start off 2022. Strength is heavily concentrated in small caps, energy. retail. Even crypto miners are gapping up.
I, on the other hand, was positioned exactly wrong. I had an SQQQ hedge, long treasuries, long gold, long risk averse, and long SAAS. The only reason why I’m down 120bps is because I also had a 2x position in LABU and lots of cash.
Honestly, it’s as if the Gods themselves cherry-picked bad stocks based upon what I was holding. I liquidated my quant left over from December and will push out a new one for Jan by 1pm. That is up 2.2% today and I’m here with cursed stocks to start off to year.
FML
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10y yield gapped up 10bps. Too early to declare victory but I will be watching this very closely.
Commodities are mixed but a good blend of energy and food are still green, and what is red isn’t down that much.
I believe the Fed is behind the inflation curve but time will tell. Especially interested in what wages look like over the next two months as white collar professionals negotiate salary to stay on. That will tell us if we’re in a wage-price spiral.
The last time the Fed was ahead of the curve they were waiting for inflation to hit 2%.
Pilots getting triple time, but they’re not white collar.
Will firing 1/3 of their staffs put some pressure on salaries? Probably nothing.
Below today’s low ….we may get some downward action in PFE. If so, I hope it is an indication that we will start treating Covid instead of injecting it.
Damn, they hit SAAS hard.
3rd Qtr Views / show (millions)
11. Joe Rogan
3.24 Tucker Carlson
2.98 The 5
2.94 Hanity
2.37 Fox
others
.82 CNN
sheepletons starting to catch on
It’s painful …but citizens should watch Chuck Todd’s show in order to keep tabs on what they’re selling. (Warning: not while eating.)