MELT UP

We are across the board melting up in all asset classes. Some people believe Russia will be winding down operations soon, once they’ve taken all of Donbas. This of course is not confirmed, but the specter of it might be enough to lend some confidence to the permanent bulls. Who, by the way, do not need any more of that.

But I don’t think traders are ever thinking about the war or anything else for that matter. We are in melt up mode for all asset classes, especially cryptos. ETH was just in the 900s and now nearing $1500.

What to make of all this? Look at WTI up 5 while at the same time retail is ripping tits to the upside clean off.

What do I think?

I think it’s fucking bullshit. I got lucky being 100% long heading into today, so I moved to cash, bought 3 more stocks, one of which was SHOP and I have since sold it for +3.5%, and now I am sitting here angry for no reason at all +1.35% and 90% cash.

I’m angry for a number of reasons, the biggest one is a dysfunctional childhood. My adulthood has been going fairly orderly and I am looking forward to my older years on the tennis courts pulling hammed strings.

Back to stocks: I’ll allocate later on this afternoon. We are now OVERBOUGHT on Stocklabs and this might not be the end of the rally. You know how the bulls get when they get that exuberance going.