Overall, the market is middling today. We were supposed to tank based off the JPM words — which hurt the soft landing crew. Nevertheless, we went straight up since the open and the gains are heavily concentrated in small caps.
Have a look at the gains intraday by market cap.
All of the shit is rocketing now, especially names with big short positions in them. I have made it a point to apply leverage to my account in order to capture some of this lightening and have gains presently of +130bps. I am not, however, content, and feel almost like I am down for the day. I just pressed another hedge on top of my portfolio of shit, which is like attempting to stop a boat from sinking from a torpedo strike by taping the gaping hole with masking tape.
It’s very possible the market will REWARD me, since I am a good person and I do deserve to be treated fairly. But you never can tell if the market is going up or down.
Bottom line: I am up more than 6% for the week and have room to gamble here, and will do so, as it is my custom to press gains and act foolish in the face of horrifying reversals.If you enjoy the content at iBankCoin, please follow us on Twitter