Gains abound and we can only pray to the Gods for more of the same. I have been buying the past hour, somewhat recklessly, but only the best stocks.
What does Fly mean the fucking best stocks?
Well, I am not chasing SAAS down the sewer hole and hoping for REKT stocks (hello fellow kids) to recover. I have acquiesced to the market and will base my portfolio around stocks that have been trending up. This includes foreign tech, banks, and commodity related names. The February Quant is out and nearly the whole damned thing is oils.
Who am I, a mere servant to the market, to argue what the market likes or doesn’t?
If you see above there I created a “MARKET MELTDOWN 2022” index inside Stocklabs, which includes all of the stocks destroyed and dragged in January. It was up 9.2% as an index yesterday, 250 stocks total. The fact we are still seeing gains today, following such an enormous day, is bullish. It’s also worth noting the positive breadth in tech yesterday was an outrageous 92%, the highest we have on record, going back to 1997.
What the fuck does it all mean?
Nothing at all. I am spewing meaningless facts to confuse you into believing it means something. Truth is, nothing is purely predictable, as each breath we take is unique and every set up, although similar, are also dissimilar. We are taking educated guesses based upon historical precedent that at times conforms and other times disconnects.
If you lost coin January, don’t beat yourselves up and do not think January will happen all year long. This is a great game, the finest there ever was, and each day is a challenge. If you don’t love doing this, just buy SPY and go fishing.
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