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
21,907 Blog Posts

In Order to Make Outsized Gains…You Need Large Balls

Let’s examine the move in energy names the past two days to start 2022, up 18.5% on GUSH. That’s wonderful but if you went in heavily long oil to start the new year — you were in fact a contrarian since it lost 20% the previous two months. On that same train of thought, the market appears to be churning through narratives in attempt to produce alpha.

The hardest hit areas of the market are in tech and healthcare, specifically software and biotech.

Perhaps an enterprising man would go balls deep into this narrative, hoping to see a mean reversion bounce like what just occurred in GUSH. Such a man is me, now long WCLD and LABU, but I do so skeptically. Naturally, it’s also normal to feel like you’re doing something wrong buying the blood. There is a vampirish quality to it and I have never remembered feeling good about it.

For the day, I closed at session highs +78bps, long but also hedged with a 10% weighting in TZA.

Never relax. Never trust the process. Fuck them.

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  1. roguewave

    We’ve come a long way in 2 years, from 2 weeks to flatten the curve to some nations talking about 6 (six) vaccinations to be “fully vaccinated”.

    But we will be back to normal soon or at least the end will be in sight.

    Well, maybe not. Fauci: we’re not going to use the expression “fully vaccinated” anymore.

    Apparently it’s impossible to ever be jabbed enough.

    Awesome leadership: Macron: “I really want to piss them off, and we’ll carry on doing this – to the end.”

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    • emersonlakepalmer

      The French are morons. The men are effeminate and the women are hairy. The baggette is the worst form of bread and Napoleon was a knucklehead.

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