It’s over again. We shall retest the lows because we, as a people, are retestoors. There is nothing more to predict or explain. With SPOT -20%, $FB -15% and every other social getting hammered, we are now moving into the real world of headwinds and with that gentlemen — we are looking at RECESSION of the looming varietal.
SAAS stocks were off by 4.5% and it seems like the small bit of momentum we enjoy in the past two days was in fact nothing more than a way station to lower prices. The pain trade IS DOWN. The news flow is becoming ribald and now we are seeing high valuation tech stocks, aka NERDS, getting wrecked.
In a sane society, will would destroy the nerds and revert back to a rural community of patriot farmers.
I closed down 1%, heavily hedged with TZA.
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How to play the arrogance, ignorance and stupidity of our leaders is a tough call.
The Russian War sword of Damocles is being hoisted high above our heads. It’s hard to see any smooth sailing until some but probably many lose their heads. And all compliments of our fearless leaders.
As always, there’s opportunity in there somewhere.
I think I will increase dry powder until some sort of resolution can be discerned.
Nimble traders can always make money.
I’m not a trader. I bet on people and themes and don’t follow closely for days, months or years. The danger being not waking up at the right time and selling too late.
My Old Man oil stock did fine today.
ATTENTION: The 2022 ARKK SUPREME BEAR MARKET RALLY is now over.
If you got your 5 day +20% return on gamble, congratulations.
If you are dead, complimentary flowers will be issued in the mail.