Then again, the character of this market has been misdirection over and over again. Just when it looked like the market was finished, trading down 7 days in a row, we got a terrific bounce. Now that we’ve bounced, recency bias suggests it’s straight up from here. All facets of the market are up, based upon perhaps the Ukrainian offensive that appears to be betting results for NATOFAGS. If this is what we’re buying stocks on, let me remind you that every reflation in markets stokes inflationary pressures and forces the Fed to hike more.
None of this matters on a day by day time scale, since most people these days, or at least the fuckers who read me, are only concerned with tomorrow’s trade. Come Monday, I suspect the market might continue higher; but I also would’ve be surprised to see it down 300 NASDAQs. Would you?
If I had no risk aversion I might be all in here. But it just seems to me a foolhardy endeavor, arrogant even, to suggest right now based upon my feeeeelings, markets will bottom for good.
I’m presently long an array of stock, leaning towards commodities, hedged with 15% in SQQQ and SOXS.
If you enjoy the content at iBankCoin, please follow us on Twitter
The next bit of news will more likely be negative than positive given the state of affairs. With the market having just bounced hard, being long over the weekend would be foolish.
Monarchs dying is always good for stawks.
Gap lower Monday – look at the paltry drop in vix
Nobody believes in this bounce means it can go higher.