It saddens me to report this, but I am very net long overnight. But I did so in a manner on par with being a gentleman, via an array of conservative dividend paying “old man” stocks. My largest risk is BIDU and I have a 15% SQQQ position to hedge. I closed the session with a win, +115bps, and 136% leveraged — because I have fucking ground to make up man.
The intelligence backtest algorithms inside Stocklabs is predicting a solid tomorrow — but extreme doom after that.
We had numerous chances to collapse today and did not. Because of this, I bought the 52 week high list and left the tech shit down 80% for the year for some of you assholes out there to dive into. You do know, mind you, you’re diving into a concrete pool without water?
BOTTOM LINE: I am bullish via my brain but my heart pines for extreme downside action, the type of action you might expect dressed to the nines with a glass of, say, CHARDONNAY in your hand brimming with Latour and all of a sudden the fucking cable snaps and it crashes lower — flattening you into the ceiling of the death trap.
Enjoy your evening.
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There is so much wrong with the current markets, I don’t even know where to start.
Suffice it to say that Jay Powell is on it even though the markets haven’t gotten the memo… yet.