Big rally in shit stocks today kept me busy trading nonsense for a gain of +132bps. I had gains of 1.75% and then lost a little in errant late day trades — but ended the session just fine and also with 125% leveraged LONG book into the long blackened weekend.
I will have you know, the market looks very bottomish — giving me feeeeeelings I experienced during the COVID lows. Although I am reticent to admit Jim Biden successfully navigated a soft landing, that is the thought process to close the week.
Stocks are up roughly 8% for the year and most recently the gains are concentrated in heavily shorted/most down names. Whilst some believe this action occurs near the end of the rally, I’d like to remind people that froth also occurs during bottoms — as people scramble to sop up stocks they thought were barreling for zero.
My opinions are subject to change based on real time events. But for now, I am extremely bullish.If you enjoy the content at iBankCoin, please follow us on Twitter